| 1 |
On which of the following law of diminishing marginal utility is applicable |
- A. Money and wealth
- B. Historical articles
- C. Normal goods of need
- D. Narcotics
|
| 2 |
When marginal utility is negative, total utility: |
- A. Decreases
- B. Increases
- C. Does not change
- D. Negative
|
| 3 |
When marginal utility is positive, total utility: |
- A. Decreases
- B. Increases
- C. Zero
- D. All of them
|
| 4 |
Who said that utility cannot be measured |
- A. Adam smith
- B. Marshall
- C. Keynes
- D. Hicks
|
| 5 |
The decreasing part of TU curve shows: |
- A. MU is zero
- B. MU is negative
- C. MU is increasing
- D. MU is decreasing
|
| 6 |
Initial utility is ______ individual utilities of all the units |
- A. More than
- B. Less than
- C. Equal to
- D. None of these
|
| 7 |
When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
- A. Zero
- B. Positive
- C. Negative
- D. Minimum
|
| 8 |
Marginal utility always: |
- A. Decreases
- B. Increases
- C. Zero
- D. Negative
|
| 9 |
One of the following is non economic want: |
- A. Car
- B. Bike
- C. Fan
- D. Self respect
|
| 10 |
Objective of a rational consumer is |
- A. To save maximum amount from his limited income
- B. To buy goods at minimum price
- C. Best choice from existing economic goods
- D. To attain maximum utility from the spent amount
|
