| 1 |
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)
|
| 2 |
Utility is related with |
- A. Usefulness
- B. Useless
- C. Necessities
- D. Desire
|
| 3 |
Cardinal utility approach was presented by: |
- A. Adam smith
- B. Keynes
- C. Robbins
- D. Marshall
|
| 4 |
Slope of marginal utility curve is |
- A. Positive
- B. Negative
- C. Vertical
- D. Horizontal
|
| 5 |
Marginal utility always: |
- A. Decreases
- B. Increases
- C. Zero
- D. Negative
|
| 6 |
Utility of the last unit of a commodity consumed is called |
- A. Positive utility
- B. Negative utility
- C. Total utility
- D. Marginal utility
|
| 7 |
Initial utility is ______ individual utilities of all the units |
- A. More than
- B. Less than
- C. Equal to
- D. None of these
|
| 8 |
When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
- A. Zero
- B. Positive
- C. Negative
- D. Minimum
|
| 9 |
The concept of utility is: |
- A. Subjective
- B. Moral
- C. Objective
- D. Neutral
|
| 10 |
Marginal utility curve moves |
- A. From left to right downward
- B. From left to right upward
- C. Parallel to ox axis
- D. Parallel to oy axis
|
