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Can you explain the answer of this question below:
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?
  • A:
    It helps consumers to make choices.
  • B:
    Utility is always measurable.
  • C:
    It is a satisfying power of a commodity.
  • D:
    It is purely a subjective entity.
The answer is B.
Most Upvoted Answer
Can you explain the answer of this question below:This a MCQ (Multiple...
B is the correct answer because utility is nothing but human satisfaction so it can't be measured
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Community Answer
Can you explain the answer of this question below:This a MCQ (Multiple...
Utility can be measured cardinally according to Marshall, but according to Hicks (ordinal approach) we can rank our preferences so utility is not always measurable cardinally.
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Can you explain the answer of this question below: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 examinationsQ Which of the following statements regarding utility is not true?A:It helps consumers to make choices.B:Utility is always measurable.C:It is a satisfying power of a commodity.D:It is purely a subjective entity.The answer is B.
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