| 1 |
If a consumer moves upward along an indifference curve, his total utility |
- A. falls to zero
- B. does not change
- C. increases
- D. decreases
|
| 2 |
Diminishing marginal utility is the basis of |
- A. law of supply
- B. law of demand
- C. laws of returns
- D. none of the above
|
| 3 |
the term marginal in economics means |
- A. unimportant
- B. additional
- C. the minimum unit
- D. just barely passing
|
| 4 |
Utility is most closely related to the term |
- A. useful
- B. useless
- C. necessary
- D. satisfaction
|
| 5 |
Utility of a product depends upon |
- A. Knowledge
- B. Ownership
- C. Form
- D. All of them
|
| 6 |
Goods which can satisfy human wants are. |
- A. Consumer goods
- B. Capital goods
- C. Social goods
- D. Public goods
|
| 7 |
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be |
- A. equal
- B. unequal
- C. increasing
- D. decreasing
|
| 8 |
Law of Equi marginal utlility is a low of |
- A. production of wealth
- B. consumption of wealth
- C. distribution of wealth
- D. exchange of wealth
|
| 9 |
A consumer in equilibrium when marginal utilities are |
- A. minimum
- B. highest
- C. equal
- D. increasing
|
| 10 |
The good which are used to produce more goods are.`` |
- A. Social goods
- B. Capital goods
- C. Consumer goods
- D. Public goods
|