"Economics studies human behaviour as a relationship between ends and scarce means which have alternative uses" is the definition of economics of

(a)

Lionel Robbins

(b)

Adam Smith

(c)

Alfred Marshall

(d)

Paul A Samuelson

Who has given scarcity definition of economic?

(a)

Adam Smith

(b)

Marshall

(c)

Robbins

(d)

Robertson

Marginal utility is measured by using the formula of

(a)

TU_n - TU_n-1

(b)

TU_n - TU_n+1

(c)

TU_n + TU_n+1

(d)

TU_n - TU_n+1

Gossen's first law is known as

(a)

Law of Equi-Marginal Utility

(b)

Law of Diminishing Marginal Utility

(c)

Law of Demand

(d)

Law of Diminishing returns

The concept of consumer's surplus is associated with

(a)

Adam Smith

(b)

Marshall

(c)

Robbins

(d)

Ricardo

Indifference curve approach is based on

(a)

Ordinal approach

(b)

Cardinal approach

(c)

Subjective approach

(d)

Psychological approach

Increase in demand is caused by

(a)

Increase in tax

(b)

Higher subsidy

(c)

Increase in interest rate

(d)

decline in population

In case of relatively more elastic demand the shape of the curve is

(a)

Horizontal

(b)

Vertical

(c)

Steeper

(d)

Flatter

Indifference curve was first introduced by

(a)

Hicks

(b)

Allen

(c)

Keynes

(d)

Edgeworth

The indifference curve are

(a)

vertical

(b)

horizontal

(c)

positive sloped

(d)

Negatively sloped