| 1 |
Utility attained by all the units of a commodity consumed |
- A. Positive utility
- B. Negative utility
- C. Total utility
- D. Marginal utility
|
| 2 |
Which law provides the base of law of demand |
- A. Law of supply
- B. Law of diminishing marginal utility
- C. Law of equi marginal utility
- D. Law of decreasing return
|
| 3 |
One of the following is non economic want: |
- A. Car
- B. Bike
- C. Fan
- D. Self respect
|
| 4 |
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
|
| 5 |
Who said that utility cannot be measured |
- A. Adam smith
- B. Marshall
- C. Keynes
- D. Hicks
|
| 6 |
To determine consumer's equilibrium, professor Marshall got help from the law |
- A. Law of diminishing marginal utility
- B. Law of equi marginal utility
- C. Law of demand
- D. Law of constant return
|
| 7 |
Slope of marginal utility curve is |
- A. Positive
- B. Negative
- C. Vertical
- D. Horizontal
|
| 8 |
According to which economist, utility is measureable |
- A. Marshall
- B. Adam smith
- C. Robbins
- D. Keynes
|
| 9 |
The term marginal in economics means: |
- A. An additional unit
- B. Change in unit
- C. Last unit
- D. All of them
|
| 10 |
The name of first law of consumption is |
- A. Law of demand
- B. Law of diminishing marginal utility
- C. Law of equi marginal utility
- D. Law of supply
|
