Consumption Analysis Book Back Questions

11th Standard

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Economics

Time : 00:45:00 Hrs
Total Marks : 30
    5 x 1 = 5
  1. Pick the odd one out

    (a)

    Luxuries

    (b)

    Comforts

    (c)

    Necessaries

    (d)

    Agricultural goods

  2. The basis for the law of demand is related to

    (a)

    Law of Diminishing Marginal Utility

    (b)

    Law of Supply

    (c)

    Law of Equi-Marginal Utility

    (d)

    Gossen's Law

  3. Increase in demand is caused by

    (a)

    Increase in tax

    (b)

    Higher subsidy

    (c)

    Increase in interest rate

    (d)

    decline in population

  4. Ordinal Utility can be measured by

    (a)

    Ranking

    (b)

    Numbering

    (c)

    Wording

    (d)

    None of these

  5. The indifference curve are

    (a)

    vertical

    (b)

    horizontal

    (c)

    positive sloped

    (d)

    negative

  6. 4 x 2 = 8
  7. Define utility.

  8. Name the basic approaches to consumer behaviour.

  9. State the meaning of indifference curves

  10. What are the degrees of price elasticity of demand?

  11. 4 x 3 = 12
  12. Describe the feature of human wants

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

  14. Distinguish between extension and contraction of demand.

  15. What are the properties of indifference curves?

  16. 1 x 5 = 5
  17. What are the methods of measuring elasticity demand?

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