Pick the odd one out

(a)

Luxuries

(b)

Comforts

(c)

Necessaries

(d)

Agricultural goods

The concept of consumer's surplus is associated with

(a)

Adam Smith

(b)

Marshall

(c)

Robbins

(d)

Ricardo

The concept of elasticity of demand was introduced by

(a)

Ferguson

(b)

Keynes

(c)

Adam Smith

(d)

Marshall

The Indifference curve analysis was presented by _____

(a)

Alfred Marshall

(b)

J.R. Hicks

(c)

A.C. Pigon

(d)

J.K. Easthan

Indifference curve was first introduced by

(a)

Hicks

(b)

Allen

(c)

Keynes

(d)

Edgeworth

The indifference curve are

(a)

vertical

(b)

horizontal

(c)

positive sloped

(d)

Negatively sloped

Define utility.

Name the basic approaches to consumer behaviour.

Write the formula of consumers surplus?

What are Giffen goods? Why is it called so?

Define budget line.

What are the degrees of price elasticity of demand?

What is consumption?

Explain Law of Demand?

Define Price line?

Describe the feature of human wants

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

Distinguish between total and marginal utility.

Explain the theory of "consumer's surplus".

Explain ordinal utility approach.

Explain the law of demand and its exceptions.

Explain the law of Equi - marginal utility

Explain the indifference curve approach?