Question
Satisfaction obtained by a consumer by consuming given number of the commodity refers to:
  1. Utility.
  2. Marginal utility.
  3. Average utility.
  4. Total utility.

Answer

  1. Total utility.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

In a situation of "Inflationary gap" at the full employment level of income:
  1. AD > AS
  2. AD = AS
  3. AD < AS
  4. None of these.
When a negative sloping straight-line demand curve, the total revenue curve is:
  1. A rectangle hyperbola.
  2. Convex to the original.
  3. An inverted vertical parabola.
  4. Concave to the origin.
In which form of the market structure is the degree of control over the price of its product by a firm very large?
  1. Monopoly.
  2. Imperfect Competition.
  3. Oligopoly.
  4. Perfect competition.
The central bank can increase availability of credit by :
  1. Raising repo rate.
  2. Raising reverse repo rate.
  3. Buying government securities.
  4. Selling government securities.
Budget line indicates:
  1. Price ratio.
  2. Income ratio.
  3. Cost ratio.
  4. None of these.
The ratio of total deposits that a commercial bank has to keep with Reserve Bank of India is called:
  1. Statutory liquidity ratio.
  2. Deposit ratio.
  3. Cash reserve ratio.
  4. Legal reserve ratio.
In case of single commodity, a consumer is at equilibrium point, marginal utility derived from consumption of commodities is 12, find the price of that commodity? (when m = 1)
  1. ₹ 1
  2. ₹ 2
  3. ₹ 12
  4. ₹ 10
Which of the following represents National Income?
  1. GNPFC
  2. NDPFC
  3. NNPMP
  4. NNPFC
The formula to calculate Marginal Product from Total Product is:

  1. $\text{MP}_\text{n}=\text{TP}_{\text{n}+1}+\text{TP}_\text{n}$

  2. $​​\text{MP}_\text{n}=\text{TP}_\text{n}-\text{TP}_{\text{n}-1}$

  3. $\text{MP}=\text{TP}$

  4. $\frac{\text{MP = TP}}{\text{units of variable factor}}$

National income is the sum of factor incomes accruing to: (Choose the correct alternative)
  1. Nationals.
  2. Economic territory.
  3. Residents.
  4. Both residents and non-residents.