11th Principles of Economics MCQS
Utility can not be measurable who has said
Hicks
Marshall
Adam Smith
Pigue
First and basic law of consumption is
Law of supply
Law of diminishing marginal utility
Law of decreasing return
Law of demand
Utility of a commodity is zero, when
Want is fully satisfied
Want is not satisfied
Utility is positive
Want is satisfied upto a certain extent
According to law of diminishing marginal utility, marginal utility of a commodity
Decreases
Remains constant
Become negative
Increases
Total utility is maximum when marginal utility is
Positive
Negative
Minimum
Zero
On which of the following law of diminishing marginal utility is applicable
Historical articles
Narcotics
Normal goods of need
Money and wealth
On which of the following law of diminishing marginal utility is applicable
Money and wealth
Goods of fashion
Necessities of life
Diamonds and jewels
Utility is related with
Necessities
Desire
Usefulness
Useless
Other name of law of equi marginal utility is
Law of demand
Law of indifference
Law of constant return
Law of diminishing marginal utility
Utility attained by the consumption of first unit of a commodity is called
Positive utility
Negative utility
Initial utility
Zero utility
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