Free MCQ’s Quiz for Class 11 Economics Chapter 2 – Theory of Consumer Behaviour with Answers is prepared based on the latest CBSE Exam Pattern for the Academic Session. Students can solve NCERT based Class 11th Economics – ‘Theory of Consumer Behaviour’ Multiple Choice Questions with Answers to know their preparation level on the Success Roar Classes website.

Here, we have provided Free MCQ’s Quiz on Class 11 Economics Chapter 2 – Theory of Consumer Behaviour. Theory of Consumer Behaviour is the study of the selection, purchase, usage and provision of ideas, products and services by individual customers, groups or organisations to satisfy their requirements and needs.

To make you perfect in this topic – Theory of Consumer Behaviour, we are here with a set of MCQs Quiz that will help you in brushing up the understanding of the concepts.

Free MCQ’s on Theory of Consumer Behaviour.

Each set of MCQ’s consists of 10 Questions and you can see the results immediately after submitting the Set.

Free MCQ’s on Theory of Consumer Behaviour

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#1. Who originated the fundamental concept of utility?

Marshall

Marshall

Pigou

Pigou

Hicks

Hicks

Samuelson

Samuelson

#2. Which of the following elements is necessary for demand?

Desire to consume

Desire to consume

Availability of adequate resources

Availability of adequate resources

Willingness to consume

Willingness to consume

All of these

All of these

#3. Which statement is true of the following?

Utility means want-satisfying power

Utility means want-satisfying power

Utility is a function of the intensity of desire

Utility is a function of the intensity of desire

Desire of consumption gives birth to utility

Desire of consumption gives birth to utility

All of these

All of these

#4. What is Gossen's First Law?

Law of Demand

Law of Demand

Law of Equi-marginal Utility

Law of Equi-marginal Utility

Law of Diminishing Marginal Utility

Law of Diminishing Marginal Utility

Consumer’s Surplus

Consumer’s Surplus

#5. Which of the following is a utility characteristic?

Utility is a psychological phenomenon

Utility is a psychological phenomenon

Utility is subjective

Utility is subjective

Utility is a relative concept

Utility is a relative concept

All of these

All of these

#6. What is the formula for calculating marginal utility?

∆TU/∆Q

∆TU/∆Q

∆MU/∆Q

∆MU/∆Q

∆Q/∆TU

∆Q/∆TU

∆Q/∆MU

∆Q/∆MU

#7. When TU reaches its maximum value, MU is:

Positive

Positive

Negative

Negative

Zero

Zero

None of these

None of these

#8. Who first proposed the concept of the Law of Equimarginal Utility?

Marshall

Marshall

Gossen

Gossen

Ricardo

Ricardo

J. S. Mill

J. S. Mill

#9. The ability of a product to satisfy human desires is referred to as its:

Productivity

Productivity

Satisfaction

Satisfaction

Utility

Utility

Profitability

Profitability

#10. The utility can be calculated as follows:

Money

Money

Exchange of goods

Exchange of goods

Weight of the good

Weight of the good

None of these

None of these

Finish