| 1 |
When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
- A. Zero
- B. Positive
- C. Negative
- D. Minimum
|
| 2 |
Capital goods are those which can satisfy human wants: |
- A. Directly
- B. Indirectly
- C. Proportionate
- D. None of these
|
| 3 |
To determine consumer's equilibrium, professor Marshall got help from the law |
- A. Law of diminishing marginal utility
- B. Law of equi marginal utility
- C. Law of demand
- D. Law of constant return
|
| 4 |
Feature of a commodity to satisfy human want, is called |
- A. Value
- B. Usefulness
- C. Utility
- D. Wealth
|
| 5 |
Utility of the last unit of a commodity consumed is called |
- A. Positive utility
- B. Negative utility
- C. Total utility
- D. Marginal utility
|
| 6 |
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
|
| 7 |
Who said that utility cannot be measured |
- A. Adam smith
- B. Marshall
- C. Keynes
- D. Hicks
|
| 8 |
Marginal utility at the point of satiety is |
- A. Zero
- B. Positive
- C. Negative
- D. Initial
|
| 9 |
Total utility always: |
- A. Decreases
- B. 1st increases then decreases
- C. Maximum
- D. Negative
|
| 10 |
Marginal utility always: |
- A. Decreases
- B. Increases
- C. Zero
- D. Negative
|
