
HECON QUIZ
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Jasmine Guillema
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100 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
denotes satisfaction. A subjective pleasure that an individual can derive from consuming a good or service.
Choice
Utility
Income
Economic theory
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Each successive incremental improvement in health generates less and less additions to total utility
law of increasing marginal utility
indifferent curve
law of diminishing marginal utility
budget constraints
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Factors to consider in decision making:
taste and preference
taste and preferences, income
none
income and preferences
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
- a property of preference that implies a bundle of goods can be ranked as preferred, indifferent or less preferred to one another
transitivity
rational preferences
non satiation
completeness
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
- this can be explained by the foregoing assumption.
transitivity
rational preferences
non satiation
completeness
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
- more or better property of preferences
transitivity
rational preferences
non satiation
completeness
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Quantification of satisfaction
cardinal utility theory
ordinal utility theory
cardinal ranking of preferences
ordinal ranking of preferences
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