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Question-1
Indifference curve is also known as _______.
(A)
Indifference map
(B)
ISO-utility curve
(C)
ISI-utility curve
(D)
All of these
Question-2
Modern demand theory uses the analytical approach of _________.
(A)
Law of demand
(B)
Equi- marginal utility
(C)
diminishing marginal utility
(D)
indifference curve
Question-3
Higer level of indifference curve shows __________ satisfaction.
(A)
Higher
(B)
lower
(C)
Same
(D)
None of these
Question-4
Indifference curve is a _________ model.
(A)
Uni
(B)
Bi
(C)
Multiple
(D)
Any of these
Question-5
If MU of a commodity is greater than MU of money, then the consumer would _______ goods and services.
(A)
Purchase
(B)
will not purchase
(C)
May leave the commodity for ever
(D)
Any of these
Question-6
________ is a set of indifference curves each one of which represents a given level of satisfaction.
(A)
Indifference curve
(B)
Indifference Map
(C)
a or b
(D)
Any of these
Question-7
Theory of reveled preference was based on ________.
(A)
Cardinal approach
(B)
Ordinal approach
(C)
Spatial approach
(D)
None of these
Question-8
For each level of satisfaction we have to draw _____ indifference curve.
(A)
Only one
(B)
Two
(C)
Three
(D)
Different
Question-9
Cardinal utility approach explains that utility can be ___________.
(A)
Measurable
(B)
Can't measure
(C)
a or b
(D)
Further data is required
Question-10
The further the curve form the origin, _________ would be the level of satisfaction it represents.
(A)
Higher
(B)
lower
(C)
Same
(D)
Any of these
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Plus 2 Humanities
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Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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