Question : Which of the following statements are true?
Statement 1- Fines are former imposed to maintain law and order.
Statement 2- Fines are later impose to generate revenue.
Option 1: Both are true .
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 2 is true and statement 1 is false.
Correct Answer: Both are true .
Solution : Fines are former imposed to maintain law and order. Fines are later impose to generate revenue. Fines are different from taxes. Hence option A is correct.
Question : Statement 1:The object of enterpreneurship is law full business. Statement 2: Entrepreneurship has certain temperamental,skill and other knowledge and competency requirements that can be acquired.
Question : Which of the following statement is correct? Statement 1: Labeling is used as an ineffective sales promotional tool. Statement 2: Labelling is to provide statutory warning required by law.
Question : Statement 1: Marginal utility is the additional satisfaction derived from consuming one additional unit of a good.
Statement 2: The law of diminishing marginal utility states that as a consumer consumes more of a good, the additional satisfaction derived from each
Question : Law of Demand is a: (a) Qualitative Statement (b) Quantitative Statement
Question : Assertion (A): The price demand curve is negatively sloped. Reason (R): Inverse relationship between price and demand is stated by the law of demand, holding all other parameters constant.
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