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Question-1
_________ is the rate at which the consumer is wiling to substitute one good for another without changing the levels of satisfaction.
(A)
Marginal rate of substitution
(B)
Marginal rate of technical substitution
(C)
Marginal substitution
(D)
None of these
Question-2
The various combinations of two commodities which give equal satisfaction to the consumers is known as ____________.
(A)
Demand schedule
(B)
Marginal utility schedule
(C)
preference schedule
(D)
Indifference curve
Question-3
Indifference curve is based on the principle of _________ approach
(A)
Cardinal
(B)
Ordinal
(C)
Spatial
(D)
None of these
Question-4
For each level of satisfaction we have to draw _____ indifference curve.
(A)
Only one
(B)
Two
(C)
Three
(D)
Different
Question-5
________ 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-6
The nearer the curve from the origin, ________ would be the level of satisfaction it represents .
(A)
Higher
(B)
Lower
(C)
same
(D)
None of these
Question-7
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-8
Since all the points on an indifference curve gives same levels of satisfaction a consumer would be __________.
(A)
Different
(B)
Indifferent
(C)
no different
(D)
Any of these
Question-9
Higer level of indifference curve lies to the ________ of first indifference curve.
(A)
left
(B)
right
(C)
Same position
(D)
Any of these
Question-10
Indifference curve is a _________ model.
(A)
Uni
(B)
Bi
(C)
Multiple
(D)
Any of these
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Plus 2 Humanities
ICSE/ISC
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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