Economics Quiz Questions And Answers – Chapter 2 – Theory of Consumer Behaviour

Economics Quiz Questions And Answers, which are covered in this chapter, relate to the topic , Theory of Consumer Behaviour Introduction to Micro Economics. Economics Quiz Questions And Answers Test contains 10 questions. Answers to Economics MCQs are available at the end of the last question. 




1. _____ shows various combinations of two products that give same amount of satisfaction:

(a)    ISO cost curve

(b)    Indifference curve

(c)     Marginal utility curve

(d)    ISO quant

2. Total utility is maximum when :

(a)    Marginal utility is maximum

(b)    Marginal utility is Zero

(c)     Average utility is maximum

(d)    Average utility is Zero

3. An indifference curve is always :

(a)    Concave to the origin

(b)    Convex to the origin

(c)     L-shaped

(d)    A vertical straight line

4. Marginal utility curve of a consumer is also his:

(a)    Indifference curve

(b)    Total utility curve

(c)     Supply curve

(d)    Demand curve

5. At equilibrium, the slope of the indifference curve is:

(a)    Equal to the slope of budget line

(b)    Greater than the slope of budget line

(c)     Smaller than the slope of budget line

(d)    None

6. The law of equi marginal utility considers price of money as:

(a)    zero

(b)    less than one

(c)     more than one

(d)    one




7. Marginal utility approach was given by:

(a)    J.R. hicks

(b)    Alfred Marshall

(c)     Robbins

(d)    A.C. Pigou

8. Indifference curves between income and leisure for an individual are generally:

(a)    Concave to the origin

(b)    Convex to the origin

(c)     Negatively sloped straight lines

(d)    Positively sloped straight lines

9. In case of a right angled indifference curve the goods are:

(a)    Perfect complements

(b)    Prefect substitutes

(c)     Inferior goods

(d)    Giffen good

10. Indifference curves never intersect each other due to:

(a)    Different levels of satisfaction

(b)    Same levels of satisfaction

(c)     Convex to origin

(d)    Concave to origin

 

ANSWERS

1. (b) Indifference curve

2. (b) Marginal utility is Zero

3. (b) Convex to the origin

4. (d) Demand curve

5. (a) Equal to the slope of budget line

6. (d) one

7. (b) Alfred Marshall

8. (d) Positively sloped straight lines

9. (a) Perfect complements

10 (a) Different levels of satisfaction

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