Please select a subject first
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State whether the following statements are TRUE or FALSE:
In deficit budget, expenditure is more than income.
Concept: Total Utility and Marginal Utility
Choose the correct answer :
The capacity of a commodity to satisfy human want is known as _________.
Concept: Total Utility and Marginal Utility
Do you agree with the following statements? Give reasons.
Marginal utility and Total utility is same.
Concept: Total Utility and Marginal Utility
Fill in the blanks with appropriate alternatives given in the bracket.
Marginal consumption function is always ________.
Concept: Total Utility and Marginal Utility
Exceptions to the law of diminishing marginal utility:
- Cardinal measurement
- Hobbies
- Miser
- Money
Concept: Law of Diminishing Marginal Utility
Unit at which MU (Marginal Utility) becomes equal with market price is ______.
Concept: Relationship Between Marginal Utility and Price
Assertion (A): MU curve slopes upwards.
Reasoning (R): MU goes on diminishing with every successive increase in the consumption of a commodity.
Concept: Law of Diminishing Marginal Utility
Identify & explain the concept from the given illustration.
Kavita consumed an additional unit of bread to satisfy her hunger.
Concept: Basic Concepts of Microeconomics > Utility
State with reason whether you agree or disagree with the following statement
When total utility is maximum, marginal utility is zero.
Concept: Basic Concepts of Microeconomics > Utility
State with reason whether you agree or disagree with the following statement
Marginal utility curve slopes downwards.
Concept: Law of Diminishing Marginal Utility
Study the following table, figure, passage and answer the question below it:
| Units | Total Utility | Marginal Utility |
| 1. | 40 | ______ |
| 2. | 60 | 20 |
| 3. | 70 | 10 |
| 4. | ______ | 0 |
| 5. | 60 | -10 |
- Complete the table ______ (1m )
- When Total utility falls Marginal utility is_______ (1m)
- Draw total utility and marginal utility curve______ (2m)
Concept: Basic Concepts of Microeconomics > Utility
Give economic terms:
Additional utility derived by a consumer from an additional unit consumed.
Concept: Basic Concepts of Microeconomics > Utility
Assertion (A): Marginal utility (MU) goes on diminishing.
Reasoning (R): Total utility (TU) increases at a diminishing rate.
Concept: Basic Concepts of Microeconomics > Utility
State with reasons whether you agree or disagree with the following statement.
There are no exceptions to the law of diminishing marginal utility.
Concept: Law of Diminishing Marginal Utility
Give reasons or explain the following statement:
Macro economics is comprehensive in nature.
Concept: Allocation of Resource and Economic Variable
Define 'or' explain the following concept.
Lumping method
Concept: Allocation of Resource and Economic Variable
Define or explain the following concept.
Macro economic variables.
Concept: Allocation of Resource and Economic Variable
Answer the following question.
What is the subject matter of macro economics?
Concept: Allocation of Resource and Economic Variable
What is a ‘consumption function’?
Concept: Concept of Aggregate Demand and Aggregate Supply
Give reasons or Explain the following statement
Autonomous investment is not directly linked with profit.
Concept: Investment Demand
