Diamonds are priced higher than water because
their total utility to buyers is higher than that of water
consumers do not buy them at a lower price
they are sold by selected firms with monopolistic powers
their marginal utility to buyers is higher than that of water
D.
their marginal utility to buyers is higher than that of water
The famous economist Thomas Robert Malthus, in his views regarding population, is
optimistic
partly optimistic and partly pessimistic
pessimistic
None of the above
Non-insurable or uncertainty risk is
change in fashion
fire
flood
change in the price of that commodity
'Gold Bullion Standard' refers to
gold coin as an unlimited legal tender
gold as the measure of value
free coinage of gold
no restriction on import and export of gold
The word 'Oikonomia' means
Household Management
Individual Management
Political Management
Fiscal Management
At which rate, Reserve Bank of India borrows money from commerical Banks?
Bank Rate
Repo Rate
Reverse Repo Rate
Statutory Liquidity Rate
Movement along the supply curve is known as .................
contraction of supply
expansion of supply
increase in supply
expansion and contraction of supply
NITI Aayog has been formed to replace which of the following institution?
Planning Commission
I.R.D.A.
Department of Telecommunications (DoT)
Department of Information Technology
In which of the following case, law of demand fails?
Giffen goods
Normal goods
Inferior goods
Both Giffen and Inferior goods