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Thursday, 09 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 2981:
Standardization of products or services is a feature of
  • A Large firms
  • B Retailer
  • C Small firms
  • D Wholesaler
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Question 2982:
The amount of satisfaction obtained from the consumption of a commodity at a particular time is called
  • A Marginal utility
  • B Diminishing return
  • C Total utility
  • D Average utility
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Question 2983:
what are inferior goods? These are goods
  • A That are generally in short supply
  • B That are no longer in demand
  • C Whose demand falls as income increase
  • D Whose price falls as demand increases
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Question 2984:
In the analysis of utility theory, the basis of demand is
  • A Marginal utility
  • B Average utility
  • C Fixed utility
  • D Diminishing utility
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Question 2985:
In the normal market situation , when the price of a commodity rises the
  • A Demand for the commodity will rise
  • B Demand for the commodity will fall
  • C Supply of the commodity will be constant
  • D Supply of the commodity will fall
View Answer & Explanation