{"@context":"https://schema.org/","@type":"Quiz","dateCreated":"2025-09-18T03:14:31.115Z","dateModified":"2026-03-10T10:19:03.023Z","typicalAgeRange":"11-18","educationalLevel":"CUET (PG)","assesses":"Commerce - Economics","educationalAlignment":[{"@type":"AlignmentObject","alignmentType":"educationalTopic","targetName":"Economics"},{"@type":"AlignmentObject","alignmentType":"educationalSubject","targetName":"Commerce"},{"@type":"AlignmentObject","alignmentType":"educationalExam","targetName":"CUET (PG)"}],"name":"Quiz about Economics","about":{"@type":"Thing","name":"Commerce - Economics"},"hasPart":[{"@type":"Question","eduQuestionType":"Multiple choice","learningResourceType":"Practice problem","educationalLevel":"intermediate","name":"Question About Economics","text":"Which of the following statements is incorrect?}","encodingFormat":"text/markdown","comment":{"@type":"Comment","text":"Remember: Indifference curves cannot intersect due to the transitivity of consumer preferences."},"suggestedAnswer":[{"@type":"Answer","position":0,"encodingFormat":"text/markdown","text":"

Indifference curves are downward sloping

","comment":{"@type":"Comment","text":"\"\""}},{"@type":"Answer","position":1,"encodingFormat":"text/markdown","text":"

Indifference curves intersect each other

","comment":{"@type":"Comment","text":"\"\""}},{"@type":"Answer","position":2,"encodingFormat":"text/markdown","text":"

Indifference curves are usually convex

","comment":{"@type":"Comment","text":"\"\""}},{"@type":"Answer","position":3,"encodingFormat":"text/markdown","text":"

Consumer preferences are assumed to be transitive

","comment":{"@type":"Comment","text":"\"\""}}],"acceptedAnswer":{"@type":"Answer","position":1,"encodingFormat":"text/markdown","text":"

Indifference curves intersect each other

","comment":{"@type":"Comment","text":"Remember: Indifference curves cannot intersect due to the transitivity of consumer preferences."},"answerExplanation":{"@type":"comment","text":"Step 1: Indifference Curve Properties: Indifference curves slope downwards, are convex to the origin, and never intersect. Step 2: Conclusion: Since indifference curves never intersect, Option 2 is incorrect."}}}]}

Which of the following statements is incorrect?

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The Correct Option is B

Solution and Explanation

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