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WorksheetsEconomics
Total questions: 20
Worksheet time: 10mins
The branch of economics that deals with the allocation of resources is:
Macro economics
Micro economics
Econometrics
Public finance
Micro economics uses which of the following methods?
Lumping method
Inclusive method
Slicing method
Comparative method
Concepts studied under macro economics are:
Product pricing and cost
Income and employment
Individual firm behaviour
Consumer equilibrium
In the law of diminishing marginal utility, Alfred Marshall assumes marginal utility of money:
Increases
Remain constant
Falls
First rises then falls
According to the law of diminishing marginal utility, utility is measured in:
Ordinal terms
Both ordinal and cardinal
Cardinal terms
Percentage
Which of the following is a correct pair?
Micro economics - Aggregate supply
Macro economics - Product pricing
Micro economics - Factor pricing
Macro economics - Individual firm behaviour
When Marginal Utility (MU) becomes negative, Total Utility (TU):
Increases
Becomes zero
Falls
Remain constant
Point of satiety means:
TU is rising and MU is falling
MU is falling and TU is rising
TU is falling and MU is negative
Tu is maximum and MU is zero
Kavita consumed five units of oranges one after another. This relates to:
Consumer surplus
Law of Equi-Marginal Utility
Law of Diminishing marginal Utility
Law of demand
Gauri collected income details of a firm. This represents:
Macro Analysis
Economic development
Micro Analysis
Budgeting
In Micro economics, the method of analysis used is:
Deductive method
Inclusive method
Lumping method
Aggregate method
Utility of a stethoscope to a doctor shows which concept of utility?
Moral concept
Subjective concept
Ethical concept
Cardinal concept
When total utility falls, marginal utility becomes:
Zero
Positive
Constant
Negative
As per the law of diminishing marginal utility, when TU is rising, MU is:
Negative
Zero
Positive
Constant
Identify the utility type: Blood bank for patients.
Time utility
Place utility
Service utility
Knowledge utility
The term 'Macrokosmos' is related to:
Micro economics
Macro economics
Econometrics
Consumer behaviour
Law of diminishing marginal utility does not apply to:
Normal goods
Addictive goods
Perishable goods
Essential goods
The scope of micro economics includes:
Aggregate demand
General price level
Product pricing
Economic growth
According to utility theory, a want arises due to:
Lack of satisfaction
Lack of money
Market trends
Inflation
Which law explains the inverse relationship between the quantity consumed and marginal Utility?
Law of Equi-Marginal Utility
Law of demand
Law of supply
Law of diminishing marginal utility
