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Consumption Analysis — Economics STD 11 — Question

Tamilnadu BoardEnglish MediumSTD 11EconomicsConsumption Analysis1 Mark
MCQ
Choose the correct statement
  • A
    The law of diminishing marginal utility is called Gresham’s law.
  • B
    The law Equi marginal utility is called Marshall’s law.
  • ✓
    The law of diminishing marginal utility is called Gossen’s first law of consumption.
  • D
    The law of demand is called Gossen’s second law of consumption.
✓

Answer

Correct option: C.
The law of diminishing marginal utility is called Gossen’s first law of consumption.
The law of diminishing marginal utility is called Gossen’s first law of consumption.

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