Economics Utility and Consumer Behavior 01 Mcqs Preparation Online Utility and Consumer Behavior 01 Mcqs Preparation Online 1. Law of substitution is another name for law of:A. SatisfactionB. Law of Demand C. Law of Equi-MUD. Law of Diminishing MU Loading... 2. Demand curve slopes downward because of the law of:A. Consumer equilibriumB. Utility minimizationC. Diminishing marginal utilityD. Utility maximization Loading... 3. Utility and usefulness are:A. DifferentB. Equal C. UnrelatedD. Similar Loading... 4. When MU = 0, TU is:A. Laws of returnB. Minimum C. MaximumD. None of the above Loading... 5. A consumer's spending is restricted because of:A. Demand curveB. Utility maximizationC. Marginal utility D. Budget constraint Loading... 6. In economics, one or more persons sharing common consumer budget is called:A. OrganisationB. HouseholdC. Business firm D. Gathering Loading... 7. Human wants are:A. CountableB. FewC. InnumerableD. One thousand Loading... 8. When marginal is negative, it must be true that:A. The total is negativeB. The average is decreasingC. The total is decreasingD. The average is negative Loading... 9. Law of Equi-marginal Utility is a law of:A. Production of wealth B. Distribution of wealthC. Exchange of wealthD. Consumption of wealth Loading... 10. A consumer is in equilibrium when marginal utilities are:A. EqualB. Minimum C. HighestD. Increasing Loading... 11. Utility is most closely related to the term:A. SatisfactionB. Useful C. NecessaryD. Useless Loading... 12. Diminishing marginal utility is the basis of:A. None of the aboveB. Law of returnsC. Law of supply D. Law of demand Loading... 13. Rotten eggs are:A. Economic goodB. ServiceC. WealthD. Free good Loading... 14. When MU is positive, TU:A. Increases B. Is highestC. Remains constant D. Decreases Loading... 15. The term 'marginal' in economics means:A. Unimportant B. The minimum unitC. Just barely passingD. Additional Loading... Loading... Related PostsPhysics MCQs Online Test 01 for PreparationPhysics MCQs Online Test 02 for PreparationPrivacy PolicyAgriculture Information MCQs Test 01 For Online PreparationAgriculture Information MCQs Test 02 For Online PreparationAgriculture Information MCQs Test 07 For Online Preparation Continue Reading Previous Wages Rent Interest and Profit 03 Mcqs Preparation OnlineNext Transport Communication and Human Resources Test 01 Mcqs Preparation Online Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ