| 1 |
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity |
- A. Increases
- B. Decreases
- C. Remains constant
- D. None of these
|
| 2 |
Want of a commodity is satisfied, when its marginal utility is |
- A. Positive
- B. Zero
- C. Negative
- D. Minimum
|
| 3 |
Consumer's behaviour means: |
- A. Selection
- B. Purchase
- C. Sale
- D. Both (a) and (b)
|
| 4 |
Which economist did present, cardinal theory of utility |
- A. Marshall
- B. Karoos
- C. Cannon
- D. J.B. Say
|
| 5 |
When marginal utility is negative, total utility: |
- A. Decreases
- B. Increases
- C. Does not change
- D. Negative
|
| 6 |
Total utility is maximum when marginal utility is |
- A. Positive
- B. Negative
- C. Zero
- D. Minimum
|
| 7 |
Human wants are: |
- A. Limited
- B. Unlimited
- C. Re-appear
- D. Both (b) and (c)
|
| 8 |
Slope of marginal utility curve is |
- A. Positive
- B. Negative
- C. Vertical
- D. Horizontal
|
| 9 |
Curve of law of diminishing marginal utility |
- A. Moves from left to right downward
- B. Moves from left to right upward
- C. Firstly it has a tendency to rise up and after a certain limit it starts falling
- D. It is parallel to ox-axis
|
| 10 |
Law of diminishing marginal utility provides basis for: |
- A. Law of demand
- B. Law of equi marginal utility
- C. Law of supply
- D. Both (a) and (b)
|
