Theory of Consumer Behaviour Class 12 MCQs Questions with Answers

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

2. Which is the First Law of Gossen?

3. An indifference curve is always :

4. Which of the following statement is true ?

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

6. Marginal utility approach was given by:

7. Consumer’s behaviour is studied in:

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

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

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

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

12. Total utility is maximum when :

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

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

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

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

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

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

19. Who gave the cardinal concept of utility?

20. Indifference curves never intersect each other due to: