Questions

To settle a dispute, one needs to have a sound decision-making ability to be able to judge both the sides. Also, a judge is a free body to decide upon any issue. 'Know' is a verb which means to be aware of through observation, inquiry, or information. 'Tactics' refer to an action or strategy carefully planned to achieve a specific end. A judge doesn't need tactics to make a judgment. 'Discretion' means the freedom to decide what should be done in a particular situation. 'Brains' refer to the intellectual capacity. 'Bias' means inclination or prejudice for or against one person or group, especially in a way considered to be unfair. Hence option 3 is the correct response.

Economists use the concept of marginal utility to measure happiness and pleasure and how that affects consumer decision making. They have also identified the law of diminishing marginal utility, which means that the first unit of consumption of a good or service has more utility than the next units of consumption.Hence, the marginal utility of the good diminishes as the amount of good consumed increases.