Utility Analysis - Finale

Utility Analysis - Finale

12th Grade

13 Qs

quiz-placeholder

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Utility Analysis - Finale

Utility Analysis - Finale

Assessment

Quiz

Education

12th Grade

Practice Problem

Medium

Created by

Sujata Debnath

Used 13+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

At point of satiety, TU is _______.

Zero

Negative

Maximum

Same as MU

2.

MULTIPLE CHOICE QUESTION

45 sec • 5 pts

Which of the following explains ‘Intra-marginal units'?

Units which a consumer willingly buys because TU > Price

Units which a consumer willingly buys because MU < Price

Units which a consumer willingly buys because MU > Price

Units which a consumer willingly buys because TU < Price

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Sunshine : less value in exchange :: ______ : less value in use

Air

Diamond

Water

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Give economic term: When utility arises on transferring ownership of goods

Knowledge utility

Possession utility

Service utility

Place utility

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Give economic term: Units at which a rational consumer is unwilling to buy where he has to pay more than MU

Marginal units

Intra-marginal units

Extra-marginal units

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Find the odd one:

Measurement of utility is hypothetical.

Utility is multi-purpose.

Demand is the basis of utility.

Utility is an abstract concept.

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Give economic term: Utility created due to change in the shape or structure of an existing material

Form utility

Time utility

Place utility

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