Theory of Consumer Behaviour Class 12 MCQs Questions with Answers

1. Who gave the cardinal concept of utility?

2. Which is the First Law of Gossen?

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

4. Indifference curves between income and leisure for an individual are generally:

5. Marginal utility approach was given by:

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

7. Consumer’s behaviour is studied in:

8. In case of a right angled indifference curve the goods are:

9. The law of equi marginal utility considers price of money as:

10. An indifference curve is always :

11. At equilibrium, the slope of the indifference curve is:

12. How many tremendous curves can touch the budget line:

13. Which of the following statement is true ?

14. ……………. shows various combinations of two products that give same amount of satisfaction:

15. Indifference curves never intersect each other due to:

16. Marginal utility curve of a consumer is also his:

17. Total utility is maximum when :

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

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

20. Marshall has given the law of Equimarginal utility related: