NCERT_CLASS_12_ECONOMICS_MICROECONOMICS

1. Take the following sentence into consideration.

1. Utility is subjective, and the same commodity might provide varying
   levels of utility to different people.
2. Total Utility is proportional to the amount of the commodity consumed.
3. A commodity's utility is its ability to meet a need.

Select the correct response.

2. consider the following statement .

1. Statement : (A) The change in total utility is
   known as marginal utility (MU).
2. Reason : (R)  Utility is a subjective concept.
   The same product can provide various levels of utility to different people.

Select the correct answer using the code given below.

3. Take a look at the following statement.

1. When total utility continues at its maximum point, marginal
   utility becomes zero.
2. A demand curve is a graphical representation of the relationship
   between a good's or service's pricing and the amount demanded over time.

Select the correct response.

4. Consider the following statement on the Law of Demand.

1. According to the law of demand, the greater the price of a commodity,
   the fewer people will demand it if all other conditions remain constant.
2. Due to the law of diminishing marginal utility, the demand curve is
   always downward sloping.
3. The Law of Demand states that there is a positive link between the
   price of a commodity and the amount demanded.

Select the correct response.

5. Take a look at the following statement.

1. An indifference curve connects all points representing bundles
   that the consumer considers indifferent.
2. An indifference curve depicts a combination of two items that
   provide the same level of satisfaction and usefulness to the consumer, resulting in indifference.

Select the correct response.

6. Think about the following statement:

1. As a consumer's income rises, demand for ordinary things decreases.
2. As a consumer's income decreases, demand for lesser goods decreases.

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7. Take a look at the following statement on substitute goods.

1. Substitute commodities are things that can be utilised for the same purpose
   by consumers, for example, coffee and tea.
2. in Substitutes goods, as the price of coffee rises, so does the demand for
   tea, and vice versa.

Use the codes below to find the correct answer:

8. Take a look at the following statement about complementary goods.

1. A complimentary good is one whose appeal grows when its counterpart grows in favour.
2. Complementary commodities are those that are eaten in conjunction with one another.
3. Tea and sugar are two examples. The demand for tea is likely to fall if the price of sugar falls.

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9. Consider the following statement in terms of a proper description of a consumer's budget.

10. match the following

Choose the correct answer