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This a MCQ (Multiple Choice Question) based practice test of Chapter 2 - Theory of Consumer Behaviour of Economics of Class XII (12) for the quick revision/preparation of School Board examinations
Q Which of the following statements regarding utility is not true?
It helps consumers to make choices.
Utility is always measurable.
It is a satisfying power of a commodity.
It is purely a subjective entity.
The answer is B.
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Indifference curve represents?
Four commodities
Less than two commodities
Only two commodities
More than two commodities
The answer is C.
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What is called point of satiety?
The point where marginal utility becomes less than zero
The point where marginal utility becomes greater than zero
The point where marginal utility becomes zero.
None of above
The answer is C.
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