Economic and Central problem or consumer equilibrium MCQ
1.What was the problem of all mother economic ?
1) scarcity
2) choice
3) income
4) satisfying
Ans . scarcity
2.What is the name of the book written by J.M. Keynes?
1) Microeconomics
2) PRO.S KEYNES
3) The General Theory of Employment, Interest and Money
4) None of these
Ans . The General Theory of Employment,Interest and Money
3. Which was the economic issues at the level of an individual ?
1) Economic
2) Macroeconomics
3) Microeconomics
4) All of these
Ans . Microeconomics
4.Which was the founding father of modern economics ?
1)Keynes
2)Akanksha Roy
3)Satyabroto Sharma
4)Adam Smith
Ans . Adam Smith
5. Want satisfying power of a good is called ____
1) Consumer
2) Utility
3) Marginal utility
4) Total utility
Ans . Utility
6. What was the term of additional unit of a
commodity ?
1) Marginal Utility
2) Consumer
3) Utility
4) Price of commodity
Ans . Marginal Utility
7) Which a consumer gets maximum satisfaction from the purchase of commodity with given income ?
1) Budget line
2) PPC
3) Consumer Equilibrium
4) None of these
Ans . Consumer Equilibrium
8. Where as the consumer will prefer more of commodity than the lesser quantity?
1) Total utility
2) Monotonic Preference
3) Indifference Set
4) All of these
Ans . Monotonic Preference
9. A set of indifference curve is called _____
1) Marginal rate
2) Quantity curve
3) Cardinal Utility
4) Indifference Map
Ans . Indifference Map
10. Which curve represent all those combination of two commodities ?
1) Monotonic Preference
2) Indifference curve
3) PPC
4) None of these
Ans . Indifference curve
11. An activity is equal to the value of next best alternative foregone ?
1) Marginal cost
2) Opportunity cost
3) Cost
4) All of these
Ans . Opportunity cost
12 . The term ‘marginal’ in economics means
1) Minimum Unit
2) Unimportant
3) Additional
4) all of these
Ans . Additional
13 . The utility is generally related to
1) Useless
2) Utility minimisation
3) Satisfaction
4) none of these
Ans . Satisfaction
14 . When MU is positive, TU
1) Remains constant
2) Decreases
3) Demand curve
4) Increase
Ans . Increase
15 . When Marginal Utility = 0, Total Utility is
1) law of demand
2) maximum
3) minimum
4) none of these
Ans . Maximum
16 . Diminishing marginal utility is the basis of
1) law of supply
2) law of demand
3) law of return
4) none of these
Ans . Law of demand
17 . A person who consumes goods and services for satisfaction of his wants is called ____
1) Consumer
2) Utility
3) Goods
4) Marginal Utility
Ans . Consumer
18 . Which is the cost of the value of next best alternative foregone.
1) Cost
2) Consumer Equilibrium
3) PPC
4) Opportunity cost
Ans . Opportunity cost
19 . Which is the rate refers to the consumer is willing to sacrifice one good to obtain one more unit of the other good .
1) Utility
2) Marginal Rate of Substitution
3) Total Utility
4) none of these
Ans . Marginal Rate of Substitution
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