Question

I. Answer any Five of the following questions by choosing the correct answers
1) Which of the following is an example of micro economic study
[a] National income
[b] Consumer behavior
[c] Unemployment
[d] Foreign Trade
2) The shape of an indifference curve is normally
[a] Convex to origin
[b] Concave to origin
[c] Horizontal
[d] Vertical
3) The market structure which produces heterogeneous products is called
[a] Monopoly
[b] Monopolistic Competition
[c] Perfect Competition
[d] None of the above
4) The year of great depression
[a] 1920
[b] 1889
[c] 1929
[d] 2022
5) In this standard all currencies were defined in terms of gold.
[a] metal
[b] silver
[c] gold standard
[d] none of the above

pls correct option guys ☺️✌☺️​

Answer 1

Answer:

Hello

the answer is

1 a

2b

3b

4c

5c

Answer 2

1. b) Consumer behaviour

2. a) Convex to origin

Indifference curves have a roughly similar shape in two ways:

• they are downward sloping from left to right;
• they are convex with respect to the origin. In other words, they are steeper on the left and flatter on the right.

3. c) Monopolistic competition

Two differences between the two are that monopolistic competition produces heterogeneous products and that monopolistic competition involves a great deal of non-price competition, which is based on subtle product differentiation.

4. c) 1929

The Great Depressio

August 1929 – March 1933

5. c) gold standard

The Gold Standard was a system under which nearly all countries fixed the value of their currencies in terms of a specified amount of gold, or linked their currency to that of a country which did so.