Multiple choice questions of Subject Commerce MCQs Multiple Choice Questions on Consumer Behaviour in Economics PDF ( Multiple Choice Questions on Consumer Behaviour in Economics PDF Quiz ) for Entrances (Entrance Exam) Conducted by different Central and State Universities are given below.
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Multiple Choice Questions on Consumer Behaviour in Economics pdf | Consumer’s Theory and Demand
1. The transformation curve is derived from the
(a) consumption ourve
(b) utility possibility curve
(c) production contract curve
(d) social welfare function
Ans. c
2. Price line is the same as the
(a) production possibility frontier
(b) isocost line
(c) budget line
(d) MR curve under perfect competition
Ans. c
4. As per the law of demand, a demand curve
(a) slopes upward from left to right
(b) slopes downward from left to right
(c) slopes downward from right to left
(d) parallel to the Y-axis
Ans. a
5. If elasticity of demand is zero, the demand curve will be
(a) parallel to X-axis
(b) parallel to Y-axis
(c) upward sloping 45° line
(d) downward sloping from left to right
Ans. b
6. Utility may be defined as
(a) willingness to pay for a commodity
(b) the desire for a commodity
(c) availability of a commodity
(d) want satisfying power of a commodity
Ans. d
7. Opportunity cost may be defined as
(a) the values of available alternatives
(b) difference between explicit cost and implicit cost
(c) the value of next best available alternative
(d) cost of an additional unit of a commodity
Ans. c
8. Marginal utility curve always
(a) słopes upward
(b) never slopes upward
(c) parallel to X-axis
(d) falls under normal conditions
Ans. d