Consumption Analysis Three Marks Questions

11th Standard

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Economics

Time : 00:45:00 Hrs
Total Marks : 30
    10 x 3 = 30
  1. Describe the feature of human wants

  2. Mention the relationship between marginal utility and total utility.

  3. Explain the concept of consumer's equilibrium with a diagram.

  4. Explain the theory of "Consumer's surplus"

  5. Distinguish between extension and contraction of demand.

  6. What are the properties of indifference curves?

  7. Briefly explain the concept of consumer's equilibrium?

  8. Explain the importance of Elasticity of Demand.

  9. Explain the importance or the application of the Law of Diminishing Marginal Utility.

  10. Explain the different types of Elasticity of Demand.

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