2. Theory of consumer behavior 76 MCQS (Class 11) - Akshay Ag.

Which of the following statements is true about consumer behaviour?

• Consumer behaviour is the study of microeconomics
• Consumer behaviour is the study of macroeconomics
• Consumer behaviour is the study of income analysis
• None of the above

Which of the following statements about utility is correct?

• One of the main characteristics of utility is that it is a relative concept
• One of the main characteristics of utility is that it is a subjective concept
• One of the main characteristics of utility is that it is a psychological phenomenon
• All of the above

Which of the following concepts is true?

• The ability to satisfy the human wants in a good or service is called its satisfaction
• The ability to satisfy the human wants in a good or service is called its productivity
• The ability to satisfy the human wants in a good or service is called its profitability
• The ability to satisfy the human wants in a good or service is called its utility

Which of the following statements is true about the law of equi-marginal utility?

• The law of equi-marginal utility is known as the law of decreasing utility
• The law of equi-marginal utility is known as the law of increasing utility
• The law of equi-marginal utility is known as the law of substitution
• The law of equi-marginal utility is known as the law of contribution

Which of the following statements about the addition of utilities is correct?

• The addition of utility that is obtained from all the units of a good or service is called the total utility
• The addition of utility that is obtained from all the units of a good or service is called the additional utility
• The addition of utility that is obtained from all the units of a good or service is called the marginal utility
• The addition of utility that is obtained from all the units of a good or service is called the maximum satisfaction

Which of the following statements is true?

• The capability of any commodity to satisfy human wants is known as utility
• The capability of any commodity to satisfy human wants is known as taste
• The capability of any commodity to satisfy human wants is known as consumption
• The capability of any commodity to satisfy human wants is known as quality

Which of the following about the relationship between marginal utility and price is correct?

• The marginal utility of a commodity or service must be equal to its price to ensure maximum satisfaction of the consumer
• The marginal utility of a commodity or service must be greater than its price to ensure maximum satisfaction of the consumer
• The marginal utility of a commodity or service must be lesser than its price to ensure maximum satisfaction of the consumer
• There is no relationship between the marginal utility of a commodity or service and its price

Which of the following is true about the relationship between total utility and marginal utility?

• The total utility of a product or service is maximum when the marginal utility is negative
• The total utility of a product or service decreases when the marginal utility is negative
• The total utility of a product or service increases at a decreasing rate when the marginal utility is negative
• None of the above

Which of the following statements about the demand curve is true?

• The slope of the demand curve is upward from left to right
• The slope of the demand curve is downward from left to right
• The slope of the demand curve is parallel to the X-axis
• The slope of the demand curve is parallel to the Y-axis

Which of the following statements is true?

• In the case of necessity goods, the fall in prices does not lead to an increase in demand
• In the case of comfort goods, the fall in prices does not lead to an increase in demand
• In the case of luxury goods, the fall in prices does not lead to an increase in demand
• None of the above