MH SET 2021 Paper 2 Economics Question Paper (26-Sep-2021)

Question 1

Choose the correct option regarding the following statements (i) and (ii).(i) An increase in the income beyond certain limit leads to increase in consumption of necessary goods.(ii) As per the law of demand, price and demand for commodity change in the same direction.

Accepted Answer

Both the statements are incorrect

Answer

Both the statements are correct

Answer

Statement (i) is correct and statement (ii) is incorrect

Answer

Statement (i) is incorrect and statement (ii) is correct

Question 2

Consider that all inputs in a production process are constant except only one input. If the total product in this case is at its maximum, the corresponding marginal product is :

Accepted Answer

Zero

Answer

Maximum

Answer

Rising

Answer

Falling

Question 3

People who choose most risky investments are :

Accepted Answer

Risk seekers

Answer

Risk averse

Answer

Risk neutral

Answer

Risk minimisers

Question 4

In a game, two or more decision takers know that their decisions are :

Accepted Answer

Strategically interdependent

Answer

Dependant

Answer

Independant

Answer

Mutually inclusive

Question 5

Other things remaining constant, if there is a successful advertisement campaign for a commodity, the demand curve for the same shall ............................. .

Accepted Answer

Shift to the right

Answer

Shift to the left

Answer

Become positively sloping

Answer

Become parallel to ‘Y’ axis

MH SET 2021 Paper 2 Economics Question Paper (26-Sep-2021)

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