Initial utility is _______ individual utilities of all the u
Initial utility is _______ individual utilities of all the units:
more | |
equal to or less | |
less | |
equal to |
en
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Curve of law of diminishing marginal utility:
Curve of law of diminishing marginal utility:
parallel to oy line | |
moves from left to right downward | |
parallel to ox line | |
moves from left to right upward |
To determine consumers equilibrium, prof. Marshall got help
To determine consumers equilibrium, prof. Marshall got help from the law:
Law of constant return | |
Law of diminishing utility | |
Law of demand | |
Law of equi marginal utility |
Symbol used for utility is:
Symbol used for utility is:
V | |
U | |
M | |
% |
After achieving point of Satiation the total utility starts:
After achieving point of Satiation the total utility starts:
Rising | |
None of these | |
Remains constant | |
Declining |
Marginal utility at the point of satiety is:
Marginal utility at the point of satiety is:
zero | |
positive | |
negative | |
initial |
When the marginal utility is negative, then total utility:
When the marginal utility is negative, then total utility:
decreases | |
changes | |
becomes negative | |
increases |
When total utility declines, the marginal utility is:
When total utility declines, the marginal utility is:
zero | |
negative | |
positive | |
maximum |
The utility derived from the consumption of extra unit of a
The utility derived from the consumption of extra unit of a commodity is called:
negative utility | |
positive utility | |
marginal utility | |
total utility |
When marginal utility is positive, total utility:
When marginal utility is positive, total utility:
Goes on decreasing | |
Is zero | |
Remains same | |
Goes on increasing |
Total utility is maximum when marginal utility is:
Total utility is maximum when marginal utility is:
positive | |
zero | |
minimum | |
negative |
Who said: Utility is measureable:
Who said: Utility is measureable:
Marshall | |
Marshall | |
Marshall | |
Marshall |
The goods which are achieved without paying price are called
The goods which are achieved without paying price are called:
uneconomic goods | |
superior goods | |
economic goods | |
inferiour goods |
Utility of last unit of commodity consumed is called:
Utility of last unit of commodity consumed is called:
negative utility | |
total utility | |
positive utility | |
marginal utility |
Which kind of problem is discussed in macro economics:
Which kind of problem is discussed in macro economics:
consumer behaviour | |
international trade | |
determination of price | |
problems of a firm |
The subject matter of macro economics is:
The subject matter of macro economics is:
behaviour of the firm | |
international trade | |
price mechanism | |
consumer behaviour |
The most clear and comprehensive definition is given by:
The most clear and comprehensive definition is given by:
Alfred Marshall | |
Robbins | |
Adam Smith | |
A.C. Pigou |
The name of Neo-classical economist is:
The name of Neo-classical economist is:
Marshal | |
Malthus | |
Robbins | |
Adam Smith |
According to Robbins, the basic subject matter of Economics
According to Robbins, the basic subject matter of Economics is:
psychological problem | |
economic problem | |
political problem | |
religious problem |
Study of large aggregates of economic system is called:
Study of large aggregates of economic system is called:
micro economics | |
macro economics | |
positive economics | |
applied economics |