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Class 11 Economics
Theory Of Consumer Behaviour
Quiz 1
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In difference curve is:
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Convex to the origin
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Concave to the origin
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Both (a) and (b) true
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All of these false
Explanation
Convex to the origin
Which of the following is true ?
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TU increases till MU is positive
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TU is maximum when MU is equal to zero
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TU declines when MU is negative
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All of these
Explanation
All of these
Who basically propounded the concept of Law of Equimarginal Utility ?
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Marshall
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Gossen
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Ricardo
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J. S. Mill
Explanation
Ricardo
Who gave the cardinal concept of utility?
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Marshall
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Pigou
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Hicks
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Samuelson
Explanation
Marshall
Consumer’s behaviour is studied in:
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Micro Economics
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Macro Economics
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Income Analysis
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None of these
Explanation
Micro Economics
Which of the following statement is true ?
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Utility means want-satisfying power
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Utility is a function of intensity of desire
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Desire of consumption gives birth to utility
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All of these
Explanation
All of these
Which is the First Law of Gossen?
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Law of Demand
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Law of Diminishing Marginal Utility
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Law of Equi-marginal Utility
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Consumer’s Surplus
Explanation
Law of Diminishing Marginal Utility
Which of the following is a characteristic of utility ?
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Utility is a psychological phenomenon
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Utility is subjective
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Utility is a relative concept
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All of these
Explanation
All of these
How we calculate marginal utility ?
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∆TU/∆Q
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∆MU/∆Q
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∆Q/∆TU
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∆Q/∆MU
Explanation
∆TU/∆Q
When TU becomes maximum, MU is:
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Positive
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Negative
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Zero
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None of these
Explanation
Zero
The ability of satisfying human want in a goods is called its:
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Productivity
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Satisfaction
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Utility
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Profitability
Explanation
Utility
Slope of budget line or price line is:
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–\(\frac{P_x}{P_y}\)
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–\(\frac{P_y}{P_x}\)
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+\(\frac{P_x}{P_y}\)
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+\(\frac{P_y}{P_x}\)
Explanation
–\(\frac{P_x}{P_y}\)
Utility is related to:
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Usefulness
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Morality
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Satisfaction of human wants
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All the above
Explanation
All the above
Utility can be measured by:
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Money
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Exchange of goods
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Weight of the good
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None of these
Explanation
Money
Law of Equi-marginal utility is called:
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Law of increasing utility
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Law of diminishing utility
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Law of substitution
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None of these
Explanation
Law of substitution
Indifference curve slopes:
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From right to left
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From left to right
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Both (a) and (b)
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None of these
Explanation
From left to right
The addition of utilities obtained from all units of a goods is called :
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Marginal Utility
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Total Utility
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Maximum Satisfaction
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Additional Utility
Explanation
Total Utility
Who propounded the ordinal utility theory’ ?
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Marshall
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Pigou
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Hicks and Allen
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Ricardo
Explanation
Hicks and Allen
The propounder of law of diminishing marginal utility is:
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Gossen
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Adam smith
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Chapman
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Hicks
Explanation
Gossen
Consumer’s equilibrium takes at a point where:
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MU = Price
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MU < Price
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MU > Price
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None of these
Explanation
MU = Price
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