Normative Economics is based on:

Deductive and Inductive methods are complimentary to each other. It is:

In inductive method, logic proceeds from:

________ has/have explained the law of demand in terms of Substitution Effect and Income Effect.

As a result of fall in the price of a commodity, consumer’s real income or purchasing power increases. This increase in the real income induces him to buy more of that commodity. This is technically termed as:

Which one of the following is not the rationale of the law of Demand?

Certain commodities have multiple uses. These different uses of a commodity make the demand curve ________ reacting to changes in price.

When total demand for a commodity whose price has fallen increases, it is due to:

Use the following diagram to answer the question given below it

The marginal physical product of the third unit of labour is ________, the MP of the ________ labour is Negative

At the point of inflexion, the marginal product is:

Suppose the first four units of a variable input generate corresponding total output of 150, 200, 350, 550. What will be the marginal product of the third unit of input?

The production process described below exhibits.

Marginal product, mathematically, is the slope of the ________.

If supply decreases and demand remains constant, then equilibrium price will be?

Assume that in the market for good Z there is a simultaneous increase in demand and the quantity supplied. The result will be:

An increase in supply with demand remaining the same, brings about.

An increase in supply with un-changed demand leads to:

Suppose the technology for producing personal computers improves and, at the same time, individuals discover new uses for personal computers so that there is greater utilisation of personal computers. Which of the following will happen to equilibrium price and equilibrium quantity?

Economic recession shares all of these characteristics except.

Which one of the following is not a feature of Contraction?