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Class 11 Economics
Theory Of Consumer Behaviour
Quiz 2
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The capability of a commodity to satisfy human wants is:
0%
Consumption
0%
Utility
0%
Quality
0%
Taste
Explanation
Utility
For the maximum satisfaction of consumer:
0%
Marginal utility of a good should be equal to its price.
0%
Marginal utility of a good should be greater than its price.
0%
There is no relation between marginal utility and price.
0%
None of these
Explanation
Marginal utility of a good should be equal to its price.
When marginal utility is negative, then total utility:
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is maximum
0%
Starts decreasing
0%
increases at decreasing rate
0%
None of these
Explanation
Starts decreasing
According to the law of equi-marginal utility, the condition for consumer’s equilibrium is:
0%
\(\frac{MU_A}{P_A}\)
0%
\(\frac{MU_B}{P_B}\)
0%
Both (a) and (b)
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Undefined
Explanation
Both (a) and (b)
According to Marshall, utility of a commodity:
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Can be measured by money
0%
Cannot be measured by money
0%
Both (a) and (b)
Explanation
Both (a) and (b)
Which element is essential for demand ?
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Desire to consume
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Availability of adequate resources
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Willingness to consume
0%
All of these
Explanation
All of these
Demand Curve generally slopes:
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Upward from left to right
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Downward from left to right
0%
Parallel to X-axis
0%
Parallel to Y-axis
Explanation
Downward from left to right
In which goods, price fall does not make any increase in demand ?
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Necessities Goods
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Comfort Goods
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Luxuries Goods
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None of these
Explanation
Necessities Goods
Which of the following factor affects demand ?
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Price
0%
Change in income
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Taste of the Consumer
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All of these
Explanation
All of these
Goods, which can alternatively be used, are called:
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Complementary Goods
0%
Substitutes
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Comforts
0%
None of these
Explanation
Substitutes
Law of Demand is a:
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Qualitative Statement
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Quantitative Statement
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Both (a) and (b)
0%
None of these
Explanation
Qualitative Statement
Which of the following is a demand function ?
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PX
0%
DX = PX
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Dx = (Px)
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None of these
Explanation
Dx = (Px)
When change in the price of goods-X affects the demand of goods-Y, this demand is called:
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Price Demand
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Income Demand
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Cross Demand
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All of these
Explanation
All of these
For normal goods, Law of Demand states the relationship between price and quantity of goods:
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Direct
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Positive
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Indirect
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None of the above
Explanation
Indirect
Which of the following is a reason for fall in demand ?
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Fall in Income
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Fall in Number of Buyers
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Fall in Taste of Consumer
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All the above
Explanation
All the above
With rise in coffee price, the demand of tea:
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Rises
0%
Falls
0%
Remains stable
0%
None of these
Explanation
Rises
Contraction in demand appears when:
0%
Price rises and demand falls
0%
Price rises and demand also rises
0%
Price remains stable and demand falls
0%
Price falls but demand remains stable
Explanation
Price rises and demand falls
Which is a reason of change in demand ?
0%
Change in consumer’s income
0%
Change in price of related goods
0%
Population increase
0%
All pf these
Explanation
All pf these
For a change in which of the following, there is no change in demand ?
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Change in price
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Change in income
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Change in taste and fashion
0%
None of these
Explanation
None of these
With a rise in price the demand for ‘Giffin’ goods:
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increases
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decreases
0%
remains constant
0%
becomes unstable
Explanation
increases
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