The central government increases spending on defence and reduces spending on rural roads. This best illustrates the principle that:
Choose the correct answer.
Trade can make everyone better off
People face trade-offs
Markets are usually a good way to organise activity
Prices rise when too much money is printed
Sneha can earn Rs. 800 for a day's work. Instead she attends a one-day workshop with a fee of Rs. 1,200. Her opportunity cost of attending is:
Choose the correct answer.
Rs. 800
Rs. 1,200
Rs. 2,000
Rs. 400
In an hour Kavita bakes 12 biscuits or 4 cakes; Nitin bakes 6 biscuits or 3 cakes. Kavita's opportunity cost of one cake is:
Choose the correct answer.
2 biscuits
3 biscuits
4 biscuits
One-third of a biscuit
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The IIT Madras BS Principles of Economics (Principles of Economics) End Term paper sat on Undated, in the Undated, set AN: 30 questions for 50 marks in 180 minutes. The first 3 questions are below. Sign in with Google — it is free — to see the whole paper with its answers and explanations, in learning mode or as a timed mock test.
| Feature | Principles of Economics End Term Undated Set AN at a glance |
|---|---|
| Term | Undated |
| Subject | Principles of Economics |
| Questions | 30 |
| Marks | 50 |
| Duration | 180 min |
| MCQ | 30 |
| Negative marking | No negative marking. |
| Updated |
