TN STATEBOARD 11th ECONOMICS CHAPTER 2
TEST
CONSUMPTION ANALYSIS CHAPTER TEST
TEST –2
PADVIKSHA BLOG
TIME:
1 HOUR 15 Minutes
TOTAL MARKS: 25
I
Multiple Choice Questions (MCQ) (Mark- 5 x 1 = 5)
Write
all questions
1.Gossen’s first law is known as.
a. Law of equi-marginal utility.
b. Law of diminishing marginal utility
c. Law of demand.
d. Law of Diminishing returns.
2. Elasticity of demand is equal to one indicates
a. Unitary Elastic Demand
b. Perfectly Elastic Demand
c. Perfectly Inelastic Demand
d. Relatively Elastic Demand
3. When TU diminishes, MU is
a) Negative
b) Positive
C) Decreases
d) Increases
4. Give potential price is Rs.375 and the
actual price is Rs.200. Find the consumer surplus.
a) 375
b) 175
C) 50
d) 200
5. If the Co-efficient elasticity is
equal to zero it represents ___________ Supply
a. Perfectly elastic
b. Inelastic
c. perfectly inelastic
d. None of the above
II
ANSWER THE FOLLOWING QUESTIONS IN ONE OR TWO SENTENCES. (3x2=6)
Write
Any 3 Questions:
1. What is the law of demand?
2. What are the determinants of
elasticity of demand?
3. Name the basic approaches to consumer
behaviour.
4. What are Giffen goods? Why it is called
like that?
5. Mention the classifications of wants.
III
Short answer questions. (3 X 3 = 9)
WRITE
ANY 3 QUESTIONS
1. Mention the relationship between marginal
utility and total utility.
2. Write a note on:
a. Needs
b. Price line or Budget line
c. Utility
3. Explain the theory of “consumer’s surplus”.
4. Distinguish between extension and contraction
of demand.
IV.
Long Answer question (1 x 5 = 5)
WRITE
ANY ONE QUESTION
1. Explain the law of demand and its
exceptions.
2. Elucidate the law of diminishing
marginal utility with diagram.
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ALL THE BEST ******************