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Utility

Authored by Tazeen Fatima Ansari

Other

12th Grade

Used 6+ times

Utility
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10 questions

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1.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

Give the economics term.

  1. 1. The sum of the utilities derived from the consumption of all the units of a commodity.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  1. 2. In the Law of Diminishing Marginal utility, Alfred Marshall assumes that marginal utility of money_____

increase

rises and then falls

decreases

remains constant

3.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

When MU is negative, TU is______.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As per the Law of Diminishing Marginal Utility, measurement of utility is assumed to be

ordinal

cardinal

both ordinal & cardinal

none of the above

5.

OPEN ENDED QUESTION

3 mins • 2 pts

Identify and explain the concepts from the given illustration :

Jimin purchased a sweater for his friend in the winter season.

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6.

OPEN ENDED QUESTION

5 mins • 3 pts

Explain the type of utility. [ any 3]

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

1) Explain the concept of utility with reference to its ethical neutrality.

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