MCQ Questions for Class 11 Economics Chapter 2 Theory of Consumer Behaviour with Answers

Here you will find NCERT MCQ Questions for Class 11 Economics with Answers PDF Free Download based on the important concepts and topics given in the textbook as per CBSE new exam pattern. This may assist you to understand and check your knowledge about the chapters. Students also can take a free test of the Multiple Choice Questions of Class 11 Economics. Each question has four options followed by the right answer. These MCQ Questions are selected supported by the newest exam pattern as announced by CBSE.

Q1. ___ shows various combinations of two products that give same amount of satisfaction:

(a) ISO cost curve
(b) Indifference curve
(c) Marginal utility curve
(d) ISO quant

(b) Indifference curve

Q2. Total utility is maximum when :

(a) Marginal utility is maximum
(b) Marginal utility is Zero
(c) Average utility is maximum
(d) Average utility is Zero

(b) Marginal utility is Zero

Q3. An indifference curve is always :

(a) Concave to the origin
(b) Convex to the origin
(c) L-shaped
(d) A vertical straight line

(b) Convex to the origin

Q4. Marginal utility curve of a consumer is also his:

(a) Indifference curve
(b) Total utility curve
(c) Supply curve
(d) Demand curve

(d) Demand curve

Q5. At equilibrium, the slope of the indifference curve is:

(a) Equal to the slope of budget line
(b) Greater than the slope of budget line
(c) Smaller than the slope of budget line
(d) None

(a) Equal to the slope of budget line

Q6. The law of equi marginal utility considers price of money as:

(a) zero
(b) less than one
(c) more than one
(d) one

(d) one

Q7. Marginal utility approach was given by:

(a) J.R. hicks
(b) Alfred Marshall
(c) Robbins
(d) A.C. Pigou

(b) Alfred Marshall

Q8. Indifference curves between income and leisure for an individual are generally:

(a) Concave to the origin
(b) Convex to the origin
(c) Negatively sloped straight lines
(d) Positively sloped straight lines

(d) Positively sloped straight lines

Q9. In case of a right angled indifference curve the goods are:

(a) Perfect complements
(b) Prefect substitutes
(c) Inferior goods
(d) Giffen good

(a) Perfect complements

Q10. Indifference curves never intersect each other due to:

(a) Different levels of satisfaction
(b) Same levels of satisfaction
(c) Convex to origin
(d) Concave to origin

(a) Different levels of satisfaction

Q11. Marshall has given the law of Equimarginal utility related:

(a) Related to goods
(b) Related to money
(c) In relation to both
(d) None of these.

(a) Related to goods

Q12. How many tremendous curves can touch the budget line:

(a) One
(b) Two
(c) Several
(d) Depends on the basis of indifference maps.

(a) One

Q13. Indifference curves were first introduced by the English economist in 1881 by:

(a) Edge worth
(b) Pareto
(c) Myers
(d) Hicks.

(a) Edge worth

Q14. Any statement about the demand of an object is considered complete when it is mentioned in the following:

(a) Price of good
(b) Demand of good
(c) Time period
(d) All of the above.

(d) All of the above.

Q15. If price of goods ‘X’ falls leading to increase in demand of goods ‘ Y’ then both the goods are:

(a) Substitute goods
(b) Complementary goods
(c) Not related
(d) Competitor.

(b) Complementary goods

Q16. According to total outlay method, the demand of a good is sinelastic when:

(a) Price will fall with the increase in amount spent
(b) When price of good decreases and money spent decreases
(c) Expenditure remains the same, even if price falls
(d) Expenditure decreases with the increase in price.

(b) When price of good decreases and money spent decreases

Fill in the blanks:

Q17. . Consumer is a …………. human being.

Rational

Q18. . If the price of substitute goods increases then the demand curve shifts to the ………….

Right

Q19. . …………. propounded the law of Diminishing Returns.

Gossen

Q20. . According to Marshall utility can be measured in terms of ………….