Question # 1

Want of a commodity is satisfied, when its marginal utility is

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Positive

Zero

Negative

Minimum

Consumer's behaviour means:

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Selection

Purchase

Sale

Both (a) and (b)

When total utility is decreasing, marginal utility is

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Zero

Positive

Negative

Maximum

According to law of diminishing marginal utility, marginal utility of a commodity

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Increases

Decreases

Remains constant

Become negative

Marginal utility curve moves

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From left to right downward

From left to right upward

Parallel to ox axis

Parallel to oy axis

Cardinal utility approach was presented by:

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Adam smith

Keynes

Robbins

Marshall

Total utility decreases when marginal utility is

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Positive

Negative

Zero

Maximum

Consumer's equilibrium takes place at that point where:

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MU is negative

MU is positve

TU is maximum

MU is maximum

On which of the following law of diminishing marginal utility is applicable

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Money and wealth

Historical articles

Normal goods of need

Narcotics

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Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test MCQs With Answers

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