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Question
From the following statements given in Column I and Column II, choose the correct pair of statements.
| Column I | Column II |
| A. Marginal utility | 1. The power of the commodity to satisfy human wants. |
| B. Cardinal measure of utility | 2. The addition to total utility resulting from the consumption of one additional unit of a commodity. |
| C. Total utility | 3. It is the sum total of utility derived from the consumption of all units of a commodity. |
| D. Utility | 4. It is the measurement of utility which is measured in terms of units. |
Options
A - 2, B - 1, C - 3, D - 4
A - 1, B - 2, C - 3, D - 4
A - 2, B - 4, C - 3, D - 1
A - 1, B - 2, C - 4, D - 3
MCQ
Match the Columns
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Solution
A - 2, B - 4, C - 3, D - 1
Explanation:
| Column I | Column II |
| A. Marginal utility | 2. The addition to total utility resulting from the consumption of one additional unit of a commodity. |
| B. Cardinal measure of utility | 4. It is the measurement of utility which is measured in terms of units. |
| C. Total utility | 3. It is the sum total of utility derived from the consumption of all units of a commodity. |
| D. Utility | 1. The power of the commodity to satisfy human wants. |
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