
Utility Analysis - 1
Quiz
•
Education
•
12th Grade
•
Practice Problem
•
Medium
Sujata Debnath
Used 35+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
In law of diminishing marginal utility, Alfred Marshall assumes that marginal utility of money ___________.
Increases
Remains constant
Decreases
Rises and then falls
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Utility differs from time to time: Relative concept :: Utility differs from person to person : _____.
Marginal Concept
Subjective Concept
Objective Concept
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
As per the law of diminishing marginal utility, measurement of utility is assumed to be ________.
Ordinal
Cardinal
Ordinal and Cardinal
None of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
MU of the commodity becomes negative when TU of a commodity is ________.
Rising
Constant
Falling
Zero
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Utility of a computer : ______ :: Utility of woollen clothes : Place utility
Knowledge Utility
Service Utility
Time utility
Possession utility
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Point of Satiety means _________
TU is rising and MU is falling
TU is falling and MU is negative
TU is maximum and MU is zero
MU is falling and TU is rising
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Transport : Place utility :: Blood bank : ______
Service utility
Time utility
Knowledge utility
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