MCQ Economics Class 12 Chapter 2 Theory of Consumer Behavior Microeconomics

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MCQ’s For All Chapters – Microeconomics Class 12th

1. What does the budget line represent?

Question 1 of 20

2. What is the slope of the budget line?

Question 2 of 20

3. What happens to the budget line when consumer income increases while prices remain unchanged?

Question 3 of 20

4. What happens when the price of bananas increases while income and the price of mangoes remain unchanged?

Question 4 of 20

5. Where is the consumer's optimum bundle generally located?

Question 5 of 20

6. At the consumer's optimum, what is equal to the absolute value of the slope of the budget line?

Question 6 of 20

7. What is called demand for a commodity?

Question 7 of 20

8. Which expression represents the demand function given in the chapter?

Question 8 of 20

9. What happens to the demand for bananas when their price falls, while other relevant factors remain unchanged?

Question 9 of 20

10. Which two effects explain the negative slope of the demand curve when the price of a commodity changes?

Question 10 of 20

11. What is a normal good?

Question 11 of 20

12. Which of the following is an example of an inferior good mentioned in the chapter?

Question 12 of 20

13. Which pair represents complementary goods?

Question 13 of 20

14. Which pair represents substitute goods?

Question 14 of 20

15. What causes a movement along a demand curve?

Question 15 of 20

16. What is the market demand for a good at a particular price?

Question 16 of 20

17. How can individual demand curves be combined to obtain the market demand curve?

Question 17 of 20

18. How is price elasticity of demand defined?

Question 18 of 20

19. When is demand said to be unitary elastic?

Question 19 of 20

20. What type of demand curve is perfectly inelastic?

Question 20 of 20


 

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