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Chapters
1: Micro and Macro Economics - An Introduction
2: Demand and Law of Demand
3: Elasticity of Demand
▶ 4: Theory of Consumer's Behaviour : Cardinal Utility Analysis
5: Theory of Consumer's Behaviour : Indifference Curve Analysis
6: Supply and Law of Supply
7: Revenue Analysis
8: Cost Theory Analysis
9: Forms of Market
10: Concept of Production and Law of Returns
11: Equilibrium of Firm and Industry Under Perfect Competition
12: Producer's Equilibrium Under Perfect Competition
13: Price Output Under Perfect Competition
14: Price Output Determination Under Monopoly
15: Price Output Determination Under Monopolistic Competition and Oligopoly
Unit 2 : Theory of Income and Employment
16: Basic Concepts of Macro Economics
17: Aggregate Demand and Supply - Determinants of Equilibrium
18: Consumption Function {Propensity to Consume)
19: Concept of Investments-Types and Determinants
20: Multiplier - I : Static and Dynamic
21: Full Employment and Voluntary Unemployment
22: Problems of Deficient Demand and Excesss Demand
23: Measures to Correct Deficient and Excess Demand
Unit 3 : Money and Banking
24: Money - An Introduction
25: Bank and Commercial Bank
26: Central Bank
Unit 4 : International Trade
27: Balance of Payments
28: Foreign Exchange Rate
Unit 5 : Public Finance
29: Fiscal Policy
30: Budget
Unit 6 ; National Income
31: National Income and Circular Flow of Income
32: Concepts of National Income
33: Measurement of National Income
34: National Income and Economic Welfare
![R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC chapter 4 - Theory of Consumer's Behaviour : Cardinal Utility Analysis - Shaalaa.com](/images/economics-english-class-12-isc_6:0ec86a6424ae41d2b0d71f72fec46101.jpg "R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC chapter 4 - Theory of Consumer's Behaviour : Cardinal Utility Analysis")
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Solutions for Chapter 4: Theory of Consumer's Behaviour : Cardinal Utility Analysis
Below listed, you can find solutions for Chapter 4 of CISCE R. K. Lekhi and P. K. Dhar for Economics [English] Class 12 ISC.
R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC 4 Theory of Consumer's Behaviour : Cardinal Utility Analysis TEST QUESTIONS [Pages 4.18 - 4.20]
SHORT ANSWER QUESTIONS
What is utility?
Explain any four features of utility.
Define Initial Utility.
Explain the following concept:
Marginal utility
What do you mean by total utility?
Upto which point of consumption, total utility increases?
What is meant by Diminishing Marginal Utility?
State and explain the assumptions of the law of diminishing marginal utility.
Exceptions to the Law of Diminishing Marginal Utility.
Explain the importance of the Law of Diminishing Marginal Utility.
Explain the law of Equi-marginal utility.
The law of equi-marginal utility is based on certain assumptions.
State the importance of the law of Equi-marginal utility.
Give any four shortcomings of the Law of Equi-Marginal Utility.
Give the meaning of consumer's equilibrium?
Define the consumer equilibrium.
LONG ANSWER QUESTIONS
What is utility?
Explain any four features of utility.
Explain the relationship between Total utility and Marginal utility.
State and explain the assumptions of the law of diminishing marginal utility.
Exceptions to the Law of Diminishing Marginal Utility.
Explain the importance of the Law of Diminishing Marginal Utility.
Explain the law of diminishing marginal utility.
Explain the relationship between Total utility and Marginal utility.
When total utility is maximum, how much is the marginal utility?
Explain the law of diminishing marginal utility.
Explain the relationship between Total utility and Marginal utility.
Explain the law of Equi-marginal utility.
The law of equi-marginal utility is based on certain assumptions.
Give any four shortcomings of the Law of Equi-Marginal Utility.
Explain the law of Equi-marginal utility.
Explain the law of Equi-marginal utility.
The law of equi-marginal utility is based on certain assumptions.
Give any four shortcomings of the Law of Equi-Marginal Utility.
Explain the law of Equi-marginal utility.
State the importance of the law of Equi-marginal utility.
Explain the condition of consumer's equilibrium with the help of utility analysis.
R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC 4 Theory of Consumer's Behaviour : Cardinal Utility Analysis EXAMINATION CORNER [Page 4.20]
Define Utility.
When can utility be negative?
Explain the law of diminishing marginal utility.
Explain the Law of Equi-Marginal Utility.
State and explain the assumptions of the law of diminishing marginal utility.
A marginal utility schedule of a person is given below. Discuss the law underlying the given schedule.
| Pens (units) | 1 | 2 | 3 | 4 | 5 |
| MU (utils) | 25 | 20 | 15 | 10 | 5 |
Using the utility approach, discuss how a consumer attains equilibrium?
Explain the law of equi-marginal utility with the help of a numerical example.
Define the following concept:
Total utility
How is marginal utility derived from total utility?
A consumer consumes goods X and Y. Given below is his marginal utility schedule for goods X and Y. Suppose the price of X is ₹ 2 of Y is ₹ 1 and income is ₹ 12. State the law of equimarginal Utility and explain how the consumer will attain equilibrium.
| Units | 1 | 2 | 3 | 4 | 5 | 6 |
| MUX | 16 | 14 | 12 | 10 | 8 | 6 |
| MUY | 11 | 10 | 9 | 8 | 7 | 6 |
Explain the relationship between Total utility and Marginal utility.
Solutions for 4: Theory of Consumer's Behaviour : Cardinal Utility Analysis
R. K. Lekhi and P. K. Dhar solutions for Economics [English] Class 12 ISC chapter 4 - Theory of Consumer's Behaviour : Cardinal Utility Analysis
Shaalaa.com has the CISCE Mathematics Economics [English] Class 12 ISC CISCE solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. R. K. Lekhi and P. K. Dhar solutions for Mathematics Economics [English] Class 12 ISC CISCE 4 (Theory of Consumer's Behaviour : Cardinal Utility Analysis) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
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Concepts covered in Economics [English] Class 12 ISC chapter 4 Theory of Consumer's Behaviour : Cardinal Utility Analysis are Law of Diminishing Marginal Utility, Consumer's Equilibrium through Cardinal Utility Approach, Law of Equi-Marginal Utility, Importance and Limitations of law of Equi-Marginal Utility, Ordinal Utility Analysis/Indifference Curve Analysis, Total Utility and Marginal Utility, Cardinal Approach (Utility Analysis), Alfred Marshall: Key Contributor to Economics, Relationship Between Total Utility and Marginal Utility, Approaches to Consumer Behaviour, Properties of Indifference Curves, Price Line or Budget Line, Consumer's Equilibrium through Indifference Curve Approach, Relationship Between Marginal Rate of Substitution and Marginal Utility, Basic Concepts of Microeconomics > Utility.
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