Study Clue

Chapter 2: Consumer Behaviour and Demand (Set-4)

A consumer’s “demand” for a good exists only when there is both desire and A Seller discount B Free delivery

In economics, “effective demand” means demand backed by A Curiosity only B Free samples C Purchasing power D Seller pressure

When a person wants a product but cannot afford it, economists call it A Effective demand B Mere desire C

When a buyer is willing and able to purchase a product at a given price and time, it refers to

A PPC drawn for two goods assumes a fixed level of technology and resources, so any point on the curve

The definition of economics that highlights “choice” mainly becomes necessary because resources are which of these? A Always growing fast

When economics studies how a family decides between saving and spending from a limited income, it mainly highlights what concept?

Economics is often called a “social science” because it mainly studies what? A Plant life growth B Chemical reactions C

When economists study how people and businesses make choices because resources are limited, they are mainly studying what? A Unlimited

In SAR remote sensing, the strong return from a smooth water surface is usually low because it mainly causes A