Gr 11

Which of the following statements is true about consumer behaviour?

• 1. Consumer behaviour is the study of microeconomics

• 1. Consumer behaviour is the study of macroeconomic

• 1. Consumer behaviour is the study of income analysis

• None of these

Which of the following statements about utility is correct?

• 1. One of the main characteristics of utility is that it is a relative concept

• 1. One of the main characteristics of utility is that it is a subjective concept

• 1. One of the main characteristics of utility is that it is a psychological phenomenon

• All of these

Which of the following concepts is true?

• 1. The ability to satisfy the human wants in a good or service is called its satisfaction

• 1. The ability to satisfy the human wants in a good or service is called its productivity

• 1. The ability to satisfy the human wants in a good or service is called its probability

• 1. The ability to satisfy the human wants in a good or service is called its utility

Which of the following statements is true?

• 1. The capability of any commodity to satisfy human wants is known as utility

• 1. The capability of any commodity to satisfy human wants is known as taste

• 1. The capability of any commodity to satisfy human wants is known as consumption

• 1. 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?

• 1. The marginal utility of a commodity or service must be equal to its price to ensure maximum satisfaction of the consumer

• 1. The marginal utility of a commodity or service must be greater than its price to ensure maximum satisfaction of the consumer

• 1. The marginal utility of a commodity or service must be lesser than its price to ensure maximum satisfaction of the consumer

• 1. 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?

• 1. The total utility of a product or service is maximum when the marginal utility is negative

• 1. The total utility of a product or service decreases when the marginal utility is negative

• 1. 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?

• 1. The slope of the demand curve is upward from left to right

• 1. The slope of the demand curve is downward from left to right

• 1. The slope of the demand curve is parallel to the X-axis

• 1. The slope of the demand curve is parallel to the Y-axis

Which of the following statements about demand is correct?

• 1. The main factor that affects the demand for a product or a service is its price

• 1. The main factor that affects the demand for a product or a service is the change in income levels of the consumer

• 1. The main factor that affects the demand for a product or a service is the taste of a consumer

• All of the above

When the price of coffee rises, the demand for tea _____

• Falls

• Rises

• Stay the same

• None of the above

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