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CSS :: Utility and Consumer Behavior


1.  Rotten eggs are:
A. Free good B. Economic good
C. Service D. Wealth

2.  Human wants are:
A. One thousand B. Few
C. Innumerable D. Countable

3.  A consumer is in equilibrium when marginal utilities are:
A. Minimum B. Highest
C. Equal D. Increasing

4.  In economics, one or more persons sharing common consumer budget is called:
A. Business firm B. Gathering
C. Organisation D. Household

5.  When marginal is negative, it must be true that:
A. The average is negative B. The average is decreasing
C. The total is negative D. The total is decreasing

6.  The term 'marginal' in economics means:
A. Unimportant B. Additional
C. The minimum unit D. Just barely passing

7.  Utility is most closely related to the term:
A. Useful B. Useless
C. Necessary D. Satisfaction

8.  Demand curve slopes downward because of the law of:
A. Consumer equilibrium B. Utility maximisation
C. Utility minimisation D. Diminishing marginal utility

9.  A consumer's spending is restricted because of:
A. Marginal utility B. Budget constraint
C. Demand curve D. Utility maximisation

10.  Law of substitution is another name for law of:
A. Law of Diminishing MU B. Law of Equi-MU
C. Law of Demand D. Satisfaction




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