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Utility and Consumer Behavior 01 Mcqs Preparation Online

— April 24, 2018 in Economics • add comment

Test Instructions

Utility and Consumer Behavior 01 Mcqs Preparation Online

1. Human wants are:
A.
B.
C.
D.

2. The term 'marginal' in economics means:
A.
B.
C.
D.

3. Diminishing marginal utility is the basis of:
A.
B.
C.
D.

4. When MU = 0, TU is:
A.
B.
C.
D.

5. Law of substitution is another name for law of:
A.
B.
C.
D.

6. A consumer is in equilibrium when marginal utilities are:
A.
B.
C.
D.

7. Utility and usefulness are:
A.
B.
C.
D.

8. Utility is most closely related to the term:
A.
B.
C.
D.

9. In economics, one or more persons sharing common consumer budget is called:
A.
B.
C.
D.

10. Rotten eggs are:
A.
B.
C.
D.

11. Law of Equi-marginal Utility is a law of:
A.
B.
C.
D.

12. Demand curve slopes downward because of the law of:
A.
B.
C.
D.

13. When MU is positive, TU:
A.
B.
C.
D.

14. A consumer's spending is restricted because of:
A.
B.
C.
D.

15. When marginal is negative, it must be true that:
A.
B.
C.
D.


 

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