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Question-1
____________ provided a systematic explanation to theory of diminishing marginal utility.

(A) Marshall	(B) HH Gossen
(C) Krugman	(D) None of these

Question-2
As more and more of same good is consumed, the intensity of consumption _________.

(A) Increases	(B) Decreases
(C) remains same	(D) Any of these

Question-3
__________ is the main assumption of law of diminishing marginal utility.

(A) Commodity must be same	(B) taste remains same
(C) price of substitute remains same	(D) All of these

Question-4
Utility is a ________.

(A) Moral concept	(B) Objective concept
(C) neutral concept	(D) Subjective concept.

Question-5
The law of diminishing marginal utility applicable to all cases except __________.

(A) Apples	(B) Mineral water
(C) liquor consumption	(D) Juice

Question-6 In an economic perspective , the success of a government depends on resolving issues of __________

(A) perfect competition	(B)monopoly
(C)macro economic relevance	(D)none of these

Question-7
Utility includes :-

(A) Form utility	(B) place utility
(C) Time utility	(D) All of these

Question-8 Optimum allocations of resources comes under __________ economics

(A) Macro	(B)Micro
(C)econometrics	(D)none of these

Question-9
The law of diminishing marginal utility is not applicable to __________.

(A) Accumulation of assets	(B) collection of stamps
(C) collection of old coins	(D) All of these

Question-10
________ is not a the assumption of law of diminishing marginal utility.

(A) Commodity must be same	(B) Taste remains same
(C) price of substitute remains same	(D) There should be a break in between consumption.

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Plus 2 Commerce

ICSE/ISC

Practice in Related Chapters
Micro Economic Theory