MCQ - Theory of Consumer Behavior CA Foundation Notes | EduRev

Business Economics for CA Foundation

Created by: Aditi Mittal

CA Foundation : MCQ - Theory of Consumer Behavior CA Foundation Notes | EduRev

 Page 1


CPT Section C General Economics Unit 2 
Ms. Anita Sharma 
Page 2


CPT Section C General Economics Unit 2 
Ms. Anita Sharma 
MCQs for Ordinal Approach 
Page 3


CPT Section C General Economics Unit 2 
Ms. Anita Sharma 
MCQs for Ordinal Approach 
MCQ.1:Indifference analysis is based on 
the idea of 
a) Law of DMU               
b) Ordinal Utility 
c) Cardinal Utility  
d) None 
Answer:  (b)  
Page 4


CPT Section C General Economics Unit 2 
Ms. Anita Sharma 
MCQs for Ordinal Approach 
MCQ.1:Indifference analysis is based on 
the idea of 
a) Law of DMU               
b) Ordinal Utility 
c) Cardinal Utility  
d) None 
Answer:  (b)  
MCQ.2; MRS is the rate at which the consumer is 
willing to substitute one good for another without 
changing the level of _____. 
  
a) income                       
b) price 
c) satisfaction  
d) none 
Answer:  (c)  
Page 5


CPT Section C General Economics Unit 2 
Ms. Anita Sharma 
MCQs for Ordinal Approach 
MCQ.1:Indifference analysis is based on 
the idea of 
a) Law of DMU               
b) Ordinal Utility 
c) Cardinal Utility  
d) None 
Answer:  (b)  
MCQ.2; MRS is the rate at which the consumer is 
willing to substitute one good for another without 
changing the level of _____. 
  
a) income                       
b) price 
c) satisfaction  
d) none 
Answer:  (c)  
MCQ.3:Two ICs never intersect 
each other because 
a) they can’t be close to each other 
b) they represent different levels of satisfaction 
c) both                                      
d) None 
Answer:  (b) 
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