MCQ Chapter 2 Economics Class 12 Maharashtra Board Utility Analysis 1. What characterizes a want in economics?It is always satisfiedIt denotes a feeling of lack of satisfactionIt is limited in numberIt is ethically neutralQuestion 1 of 202. Why are human wants considered recurring?They are satisfied once and for allThey arise repeatedly over timeThey are only influenced by cultureThey remain constantQuestion 2 of 203. What influences the variation in human wants?Only income levelsAge, gender, seasons, habits, and cultureOnly market pricesEthical considerationsQuestion 3 of 204. How is utility defined in economics?The pleasure derived from a commodityThe capacity of a commodity to satisfy wantsThe price of a commodityThe usefulness of a commodityQuestion 4 of 205. What does utility analysis primarily focus on?Government policiesProducer behaviorConsumer behaviorMarket equilibriumQuestion 5 of 206. Why does utility vary with time and place?It is a fixed conceptIt is relative to specific contextsIt depends only on priceIt is always constantQuestion 6 of 207. What makes utility a subjective concept?It is identical for all individualsIt varies based on individual preferencesIt is measurable numericallyIt is ethically drivenQuestion 7 of 208. Why is utility considered morally neutral?It only satisfies ethical wantsIt satisfies any want without moral judgmentIt is always beneficialIt depends on usefulnessQuestion 8 of 209. How does utility differ from usefulness?Utility is the want-satisfying power, usefulness is value in useThey are identical conceptsUtility is measurable, usefulness is notUtility indicates pleasure, usefulness indicates satisfactionQuestion 9 of 2010. Why may a commodity with utility not provide pleasure?Utility and pleasure are the sameUtility satisfies a want but may not be enjoyablePleasure is the cause of utilityUtility always leads to pleasureQuestion 10 of 2011. What is the relationship between utility and satisfaction?Satisfaction is the cause of consumptionUtility is the cause, satisfaction is the resultThey are identical conceptsUtility is the end result of consumptionQuestion 11 of 2012. Why is utility measurement hypothetical?It can be precisely quantifiedIt is an abstract concept, not numerically measurableIt is always negativeIt depends only on priceQuestion 12 of 2013. What does it mean that a commodity has multi-purpose utility?It satisfies only one person’s wantIt can satisfy multiple people and usesIt is limited to a single purposeIt depends on market priceQuestion 13 of 2014. How does the intensity of a want affect utility?Utility remains constant regardless of wantMore intense wants increase utilityUtility increases as wants diminishUtility is unrelated to wantsQuestion 14 of 2015. Why does utility form the basis of demand?Demand exists only if a commodity has utilityDemand is unrelated to utilityUtility depends on price aloneDemand is based on satisfaction aloneQuestion 15 of 2016. What is form utility?Utility from changing a commodity’s placeUtility from changing the shape or structure of a materialUtility from professional servicesUtility from acquiring knowledgeQuestion 16 of 2017. What creates place utility?Changing the time of useChanging the location of a commodityTransferring ownershipProviding personal servicesQuestion 17 of 2018. What is service utility?Utility from changing a commodity’s shapeUtility from personal services by professionalsUtility from storing goodsUtility from transferring ownershipQuestion 18 of 2019. What is knowledge utility?Utility from transferring ownershipUtility from understanding a product’s functionsUtility from storing goodsUtility from changing a commodity’s placeQuestion 19 of 2020. What is possession utility?Utility from changing the time of useUtility from transferring ownership of goodsUtility from professional servicesUtility from changing a commodity’s shapeQuestion 20 of 20 Loading...
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