| 1 |
On which of the following law of diminishing marginal utility is applicable |
- A. Money and wealth
- B. Diamonds and jewels
- C. Goods of fashion
- D. Necessities of life
|
| 2 |
According to law of diminishing marginal utility, marginal utility of a commodity |
- A. Increases
- B. Decreases
- C. Remains constant
- D. Become negative
|
| 3 |
On which of the following law of diminishing marginal utility is applicable |
- A. Money and wealth
- B. Historical articles
- C. Normal goods of need
- D. Narcotics
|
| 4 |
Economist who presented the first law of consumption |
- A. Marshall
- B. Adam smith
- C. Robbins
- D. Pigou
|
| 5 |
One of the following is non economic want: |
- A. Car
- B. Bike
- C. Fan
- D. Self respect
|
| 6 |
Which economist did present, cardinal theory of utility |
- A. Marshall
- B. Karoos
- C. Cannon
- D. J.B. Say
|
| 7 |
The name of first law of consumption is |
- A. Law of demand
- B. Law of diminishing marginal utility
- C. Law of equi marginal utility
- D. Law of supply
|
| 8 |
The price of non-economic want is always: |
- A. Very high
- B. Very Low
- C. Negative
- D. Zero
|
| 9 |
Utility attained by the consumption of first unit of a commodity is called |
- A. Positive utility
- B. Negative utility
- C. Initial utility
- D. Zero utility
|
| 10 |
When total utility is decreasing, marginal utility is |
- A. Zero
- B. Positive
- C. Negative
- D. Maximum
|
