Correct Answer: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A)

Solution : The rule of demand—the inverse relationship between prices and quantity demanded—is once again demonstrated by the downward slope of the demand curve.
It is due to the law of diminishing marginal utility 
The law of diminishing marginal utility states that all else equal, as consumption increases, the marginal utility derived from each additional unit declines.
Hence a is the correct answer.

Correct Answer: Related to goods

Solution : It is related to goods only.
Alfred Marshall proposes the law of equi-marginal utility.
'If a person has a goods that can be put to several uses, he will distribute it among these uses in such a way that it has the same marginal utility in all,' says Prof. Marshall.
Hence option b is the correct answer.

Correct Answer: The marginal utility derived from the good decreases at a decreasing rate.

Solution : The answer is (d) The marginal utility derived from the good decreases at a decreasing rate.

The law of diminishing marginal utility states that as a consumer consumes more of a good, the marginal utility derived from each additional unit of the good decreases. This means that the first unit of the good provides the most utility, the second unit provides less utility, and so on.

The law of diminishing marginal utility is an important concept in economics because it helps us to understand how consumers make decisions about what goods and services to purchase. It also helps us to understand why demand curves are downward sloping.

Correct Answer: Provide information required by law 

Solution : Labelling provides information required by law. For example the statutory warning on the package of cigaret or Pan masala, smoking is injurious to health or chewing tobacco is injurious to health. In case of hazardous goods or poisonous material appropriate safety warning is also required to be put on the label.

Hence, option B is correct.

Correct Answer: Law of demand

Solution : The Law of Demand is based on diminishing marginal utility. When the price of a good falls, a downward-sloping marginal utility curve implies that consumers must purchase more of the good in order for its marginal utility to fall and become equal to the new price.
Hence c will be the correct answer.
 

Correct Answer: Sister-in-law

Solution : According to the given information, the family tree is as follows –

Here, the quadrilateral represents the male, and the circular figure represents the female in the figure.

So, from the above family tree, Babita is the sister-in-law of Chiranjiv's wife. Hence, the first option is correct.

Correct Answer: Statement 1 is false and statement 2 is true.

Solution : Labeling is used as effective sales promotional tool. Labelling is to provide statutory warning required by law. To put "smoking is injurious to health" on the package of cigarette and "chewing tobacco is injurious to health" on the package of Pan masala are the examples of statutory warning.

Hence, option D is correct.

Correct Answer: unless the President

Solution : The correct choice is the second option.

Until is used for time, and the subordinating conjunction unless (if not) introduces the condition in the sentence.

For example, Ram will not pass unless he works hard.

Therefore, the revised sentence would be: "A law cannot be enforced unless the President gives his assent to it."

Correct Answer: Article 14

Solution : The correct option is Article 14.

The concept of equality before the law in the Indian Constitution is primarily enshrined in Article 14. Article 14 states that "the State shall not deny to any person equality before the law or the equal protection of the laws within the territory of India." This provision ensures that all individuals, regardless of their background, are treated equally by the law.

Correct Answer: Company 

Solution : Answer = Company 

An artificial person created by law refers to a company. Unlike sole traderships and partnerships, which are business structures formed by individuals, a company is a separate legal entity established under the law. It has rights, responsibilities, and liabilities distinct from its owners, making it an independent legal entity. A company is an artificial legal person enjoying a separate entity from its members.