alleryWhen marginal utility is zero, total utility is
- negative
- minimum
- maximum
- zero
Show answer and solution
Correct answer: C. maximum
Total utility is maximum at the point where marginal utility becomes zero
beyond that MU turns negative and TU falls.
AP Intermediate 1st Year Theory of Consumer Behaviour & Demand — practice questions
Explore 50 free Theory of Consumer Behaviour & Demand questions in AP Intermediate 1st Year Economics. Open each question or exercise to read its content, reference answers and available explanation.
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When marginal utility is zero, total utility isRead the answer and worked solution →Values and ideologies shared by a community shape buying through which set of factors?Read the answer and worked solution →Sociologists define social class using income, occupation and:Read the answer and worked solution →Groups a person likes to be associated with, formal or informal, are called:Read the answer and worked solution →The process that starts, guides and sustains goal-directed behaviour is:Read the answer and worked solution →The psychologist whose five levels of needs are used to explain buying is:Read the answer and worked solution →Marketing stimuli reaching a buyer are said to enter the buyer's:Read the answer and worked solution →Beliefs and attitudes, motives, perceptions and values together describe the buyer's:Read the answer and worked solution →The final stage of the buying process is:Read the answer and worked solution →A buyer in the milder search state is described as being in:Read the answer and worked solution →A person whose views strongly sway others in a group is described as an:Read the answer and worked solution →A group within a wider culture sharing its own values is a:Read the answer and worked solution →After buying, a customer will experience either satisfaction or:Read the answer and worked solution →Catch the buying stagesRead the answer and worked solution →Pop the social influencesRead the answer and worked solution →Run the buying gatesRead the answer and worked solution →Slice the consumer wordsRead the answer and worked solution →Inside or outside the buyerRead the answer and worked solution →Sort the buying stagesRead the answer and worked solution →Type the numberRead the answer and worked solution →Consumer bingoRead the answer and worked solution →Dividing a market by where customers live is called:Read the answer and worked solution →A segment a firm can actually reach at an affordable cost is described as:Read the answer and worked solution →A segment whose members are alike inside and unlike other segments is:Read the answer and worked solution →A segment worth executing a marketing strategy against is described as:Read the answer and worked solution →A marketer wanting to estimate how many buyers a segment holds is testing whether it is:Read the answer and worked solution →A segment too small to justify spending resources on fails the test of being:Read the answer and worked solution →A firm treating the whole market as one and using a single marketing mix practises:Read the answer and worked solution →A firm identifying several target markets and designing separate strategies for each practises:Read the answer and worked solution →A firm serving only one small slice of the market practises:Read the answer and worked solution →
Worked practice questions
Values and ideologies shared by a community shape buying through which set of factors?
- Clerical factors
- Climatic factors
- Currency factors
- Cultural factors
Show answer and solution
Correct answer: D. Cultural factors
1. Subculture and social class sit inside this set.
2. The group's shared beliefs matter.
3. They are cultural factors.
_Source: OpenStax Principles of Marketing, Chapter 3, Understanding Consumer Markets and Buying Behavior._
Sociologists define social class using income, occupation and:
- Education
- Elevation
- Emigration
- Entertainment
Show answer and solution
Correct answer: A. Education
1. Three factors are named together.
2. Income and occupation are two of them.
3. The third is education.
_Source: OpenStax Principles of Marketing, Chapter 3, Understanding Consumer Markets and Buying Behavior._
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