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Karnataka PUC I Theory of Consumer Behaviour & Demand — practice questions — page 2

Explore 50 free Theory of Consumer Behaviour & Demand questions in Karnataka PUC I Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Theory of Consumer Behaviour & Demand questions and exercises with answers

Showing questions 31–50 of 50.

True or false: indifference curvesRead the answer and worked solution →Which one does NOT belong?Read the answer and worked solution →Normal good or inferior good?Read the answer and worked solution →Tap what can shift the demand curveRead the answer and worked solution →Which reason for consumer protection rests on business using resources that belong to the society?Read the answer and worked solution →A firm that avoids exploitative practices because it is simply the right thing to do is acting on:Read the answer and worked solution →Under the Right to Information Act 2005, Section 4, information must be made available to:Read the answer and worked solution →The quality mark for graded agricultural produce is:Read the answer and worked solution →A jeweller must display which mark to assure the purity of gold ornaments?Read the answer and worked solution →Manufacturers may use the ISI mark only after ensuring their goods conform to:Read the answer and worked solution →A buyer of a heater that catches fire is exercising which right when she demands safe goods?Read the answer and worked solution →A packet must carry ingredients, date of manufacture, price and quantity because of the:Read the answer and worked solution →Freedom to pick from a variety of products at competitive prices is the:Read the answer and worked solution →A customer files a complaint about a faulty phone and asks to be listened to. This is the:Read the answer and worked solution →Replacement of a product, removal of its defect, or compensation for loss are reliefs under the:Read the answer and worked solution →The right to acquire knowledge and stay well informed throughout life is the right to:Read the answer and worked solution →Asking for a cash memo when buying goods matters because it serves as:Read the answer and worked solution →The awareness campaign run by the Department of Consumer Affairs is called:Read the answer and worked solution →The Consumer Protection Act sets up a redressal machinery with how many tiers?Read the answer and worked solution →The National Commission is set up by the:Read the answer and worked solution →

Worked practice questions

True or false: indifference curves

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Questions
  1. Statement is true
    Yes
    Statement
    All points on one indifference curve give the consumer the same satisfaction.
  2. Statement is true
    Yes
    Statement
    An indifference curve slopes downward.
  3. Statement is true
    No
    Statement
    Bundles on a higher indifference curve are less preferred.
  4. Statement is true
    Yes
    Statement
    For perfect substitutes the marginal rate of substitution stays the same.
Instructions
Decide whether each statement about indifference curves is true or false.
_Source: syllabus Introductory Microeconomics Ch2 Consumer Behaviour, 2.3 OPTIMAL CHOICE OF THE CONSUMER_

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Which one does NOT belong?

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Questions
  1. Items
    1. Slopes downward
    2. Slopes upward
    3. Same satisfaction throughout
    4. Usually convex to origin
    Reason
    An indifference curve slopes downward, never upward. The other three are genuine properties.
    Odd item
    Slopes upward
  2. Items
    1. Budget set
    2. Budget line
    3. Marginal cost
    4. Indifference curve
    Reason
    Marginal cost belongs to the theory of the firm. The other three are consumer concepts.
    Odd item
    Marginal cost
Instructions
Tap the item that does not belong with the rest.
_Source: syllabus Introductory Microeconomics Ch2 Consumer Behaviour, 2.3 OPTIMAL CHOICE OF THE CONSUMER_

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Normal good or inferior good?

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Items
  1. Item
    Rises with income
    Category
    Normal
  2. Item
    Income effect +ve
    Category
    Normal
  3. Item
    Buy more if rich
    Category
    Normal
  4. Item
    Falls with income
    Category
    Inferior
  5. Item
    Income effect -ve
    Category
    Inferior
  6. Item
    Drop it if rich
    Category
    Inferior
Categories
  1. Item
    Normal
  2. Item
    Inferior
Instructions
Tap a description, then tap the kind of good it names.
_Source: syllabus Introductory Microeconomics Ch2 Consumer Behaviour, 2.4.3 Normal and Inferior Goods_

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