CBSE  /  Class 11  /  Economics  /  Theory of Consumer Behaviour

  • 1. 
    Consumer is in equilibrium when:

  • MUx = PUx
  • MUx > PUx
  • MUx < Px
  • MUx ÷ Px

  • 2. 
    Marshall has given the law of Equimarginal utility related:

  • Related to goods
  • Related to money
  • In relation to both
  • None of these.

  • 3. 
    How many tremendous curves can touch the budget line:

  • One
  • Two
  • Several
  • Depends on the basis of indifference maps.

  • 4. 
    Indifference curves were first introduced by the English economist in 1881 by:

  • Edge worth
  • Pareto
  • Myers
  • Hicks.

  • 5. 
    Any statement about the demand of an object is considered complete when it is mentioned in the following:

  • Price of good
  • Demand of good
  • Time period
  • All of the above.

  • 6. 
    If price of goods ‘X’ falls leading to increase in demand of goods ‘ Y’ then both the goods are:

  • Substitute goods
  • Complementary goods
  • Not related
  • Competitor.

  • 7. 
    According to total outlay method, the demand of a good is sinelastic when:

  • Price will fall with the increase in amount spent
  • When price of good decreases and money spent decreases
  • Expenditure remains the same, even if price falls
  • Expenditure decreases with the increase in price.
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