| 1 |
According to which economist, utility is measureable |
- A. Marshall
- B. Adam smith
- C. Robbins
- D. Keynes
|
| 2 |
Total utility increases when marginal utility is |
- A. Positive
- B. Negative
- C. Zero
- D. Minimum
|
| 3 |
Utility of the last unit of a commodity consumed is called |
- A. Positive utility
- B. Negative utility
- C. Total utility
- D. Marginal utility
|
| 4 |
Slope of marginal utility curve is |
- A. Positive
- B. Negative
- C. Vertical
- D. Horizontal
|
| 5 |
Consumer goods are those goods which the consumers consume |
- A. Directly
- B. Indirectly
- C. Sometimes
- D. Never
|
| 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 |
Cardinal utility approach was presented by: |
- A. Adam smith
- B. Keynes
- C. Robbins
- D. Marshall
|
| 8 |
The power of a good or service to satisfy a human want is called: |
- A. Value
- B. Price
- C. Utility
- D. All of them
|
| 9 |
Feature of a commodity to satisfy human want, is called |
- A. Value
- B. Usefulness
- C. Utility
- D. Wealth
|
| 10 |
Other name of law of equi marginal utility is |
- A. Law of diminishing marginal utility
- B. Law of demand
- C. Law of constant return
- D. Law of indifference
|
