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MCQ Chapter 2 Economics Class 12 Maharashtra Board

Utility Analysis

1. What happens to marginal utility when consumption continues beyond the point of satiety?

Question 1 of 20

2. Why does the law not apply to hobbies like stamp collecting?

Question 2 of 20

3. Why is a miser an exception to the law?

Question 3 of 20

4. Why does the law not fully apply to addictions?

Question 4 of 20

5. Why is power considered an exception to the law?

Question 5 of 20

6. What is a criticism of the law regarding its assumptions?

Question 6 of 20

7. Why is cardinal measurement a criticism of the law?

Question 7 of 20

8. Why does the law not apply to indivisible goods?

Question 8 of 20

9. What is a criticism regarding marginal utility of money?

Question 9 of 20

10. Why is the law criticized for focusing on a single want?

Question 10 of 20

11. How is the law useful to consumers?

Question 11 of 20

12. How does the law assist the government?

Question 12 of 20

13. What is the paradox of values based on the law?

Question 13 of 20

14. How does the law relate to the law of demand?

Question 14 of 20

15. What are intra-marginal units in consumption?

Question 15 of 20

16. What is the marginal unit in consumer equilibrium?

Question 16 of 20

17. What are extra-marginal units?

Question 17 of 20

18. When does a rational consumer achieve equilibrium?

Question 18 of 20

19. What happens to total utility when marginal utility is falling but positive?

Question 19 of 20

20. Why is the law of diminishing marginal utility considered universal?

Question 20 of 20


 

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