Question # 1

After achieving point of Satiation the total utility starts

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Rising

Declining

Remains constant

None of these

When no satisfaction is attained by the consumption of a commodity, its marginal utility is

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Zero

Positive

Negative

Minimum

Want of a commodity is satisfied, when its marginal utility is

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Positive

Zero

Negative

Minimum

The power of a good or service to satisfy a human want is called:

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Value

Price

Utility

All of them

Capital goods are those which can satisfy human wants:

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Directly

Indirectly

Proportionate

None of these

TU is maximum where MU of all goods is:

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Minimum

Maximum

Negative

Equal

Total utility decreases when marginal utility is

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Positive

Negative

Zero

Maximum

Total utility always:

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Decreases

1st increases then decreases

Maximum

Negative

When marginal utility is negative, then total utility

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Decreases

Increases

Does not change

Becomes negative

Consumer's behaviour means:

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Selection

Purchase

Sale

Both (a) and (b)

Who said that utility cannot be measured

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Adam smith

Marshall

Keynes

Hicks

Which of the following stated that utility is measurable

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Marshall

Adam Smith

Robbins

Keynes

When marginal utility is positive, total utility:

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Decreases

Increases

Zero

All of them

Curve of law of diminishing marginal utility

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Moves from left to right downward

Moves from left to right upward

Firstly it has a tendency to rise up and after a certain limit it starts falling

It is parallel to ox-axis

Consumer's equilibrium takes place at that point where:

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MU is negative

MU is positve

TU is maximum

MU is maximum

Which economist did present, cardinal theory of utility

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Marshall

Karoos

Cannon

J.B. Say

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Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test MCQs With Answers

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