consumer behaviour

consumer behaviour

11th Grade - Professional Development

13 Qs

quiz-placeholder

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consumer behaviour

consumer behaviour

Assessment

Quiz

Social Studies

11th Grade - Professional Development

Practice Problem

Hard

Created by

Sonika Parmar

Used 353+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

_________________ means that a rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction.

monotonic preference

indifference curve.

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

any consumption beyond the point of satiety leads to _______

utility

disutility

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

indifference curves are convex to the origin because of ___________ marginal rate of substitution

increasing

decreasing

constant

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

__________ refers to family of indifference curve.

indifference curve

indifference map

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

different points on an indifference curve represents different satisfaction levels

true

false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which of these is not a property of indifference curve?

indifference curve slopes downwards

indifference curve is concave to the origin

indifference curve is convex to the origin

higher indifference curve represents higher level of satisfaction.

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

according to the law of diminishing marginal utility, satisfaction derived from consumption of each additional unit:

increases

decreases

remains same

either increases or decreases

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