Consumer theory Quizz

Consumer theory Quizz

12th Grade

16 Qs

quiz-placeholder

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Consumer theory Quizz

Consumer theory Quizz

Assessment

Quiz

Other

12th Grade

Medium

Created by

Madappa DS

Used 31+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Utility is

Objective

Subjective

Both a and b

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The shape of an indifference curve is normally

Convex to the origin

Concave to the origin

Horizontal

Vertical

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The consumption bundles that are available to the consumer depends on

Colour and shape

Price and income

Income and quality

Land of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The equation of budget line is

PX+P1x1=M

M=PoXo+Px

P1x1+P2x2=M

Y=MX+C

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The demand for these goods increases as income increases

Inferior goods

Giffen goods

Normal goods

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A vertical demand curve is

Perfectly elastic

Perfectly inelastic

Unitary elastic

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ordinal utility analysis expresses utility in

Numbers

Returns

Ranks

Awards

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