{"id":6909,"date":"2023-11-23T18:20:26","date_gmt":"2023-11-23T12:50:26","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=6909"},"modified":"2023-11-23T18:22:03","modified_gmt":"2023-11-23T12:52:03","slug":"ncert-class-11-economics-mcq-4","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-4\/","title":{"rendered":"NCERT Class 11 Economics\u00a0MCQ :\u00a0Theory of Consumer Behaviour"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-4\/#NCERT_Class_11_Economics_MCQ_Theory_of_Consumer_Behaviour\" >NCERT Class 11 Economics&nbsp;MCQ :&nbsp;Theory of Consumer Behaviour<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-4\/#NCERT_Class_11_Economics_Theory_of_Consumer_Behaviour_MCQ_%E2%80%93_NCERT_Class_11_MCQ\" >NCERT Class 11 Economics&nbsp;: Theory of Consumer Behaviour MCQ &#8211; NCERT Class 11 MCQ<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-4\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_11_Economics_MCQ_Theory_of_Consumer_Behaviour\"><\/span>NCERT Class 11 <strong>Economics&nbsp;<\/strong>MCQ :&nbsp;Theory of Consumer Behaviour<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Uncover the intricacies of the &#8220;Theory of Consumer Behaviour&#8221; through our meticulously curated Multiple Choice Questions (MCQs) page, featuring questions extracted from the previous year papers of diverse exams, including UPSC IAS and more. This specialized resource is designed to empower aspirants with a profound understanding of consumer behavior, a pivotal concept in economics and related fields.<\/p>\n\n\n\n<p>Immerse yourself in real exam questions that probe the fundamental principles governing how consumers make choices in the marketplace. Whether you&#8217;re gearing up for UPSC IAS or exams across various sectors, this MCQs page offers a strategic advantage in your preparation, covering a spectrum of difficulty levels to ensure a comprehensive grasp of the subject.<\/p>\n\n\n\n<p>Enhance your knowledge of the factors influencing consumer decisions, from utility maximization to budget constraints, with this dedicated MCQs page. Perfect for students of economics, business, and competitive exams, this resource facilitates a targeted and effective study of the &#8220;Theory of Consumer Behaviour.&#8221;<\/p>\n\n\n\n<p>Prepare for success by engaging with this expertly crafted collection of questions, sharpening your analytical skills and reinforcing your understanding of the principles that govern consumer choices.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_11_Economics_Theory_of_Consumer_Behaviour_MCQ_%E2%80%93_NCERT_Class_11_MCQ\"><\/span>NCERT Class 11 <strong><strong><strong>Economics&nbsp;<\/strong><\/strong><\/strong>: Theory of Consumer Behaviour MCQ<strong> &#8211; NCERT Class 11 MCQ<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Who gave the cardinal concept of utility?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90431\">Marshall<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90431\"> Pigou<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90431\">Hicks<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90431\">Samuelson<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Consumer\u2019s behaviour is studied in:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90432\"> Micro Economics<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90432\">Macro Economics<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90432\">Income Analysis<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90432\"> None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following statement is true ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90433\">) Utility means want-satisfying power<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90433\">Utility is a function of intensity of desire<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90433\">Desire of consumption gives birth to utility<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90433\">All of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which is the First Law of Gossen?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90434\">Law of Demand<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90434\"> Law of Diminishing Marginal Utility<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90434\">Law of Equi-marginal Utility<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90434\">Consumer\u2019s Surplus<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is a characteristic of utility ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90435\"> Utility is a psychological phenomenon<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90435\"> Utility is subjective<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90435\"> Utility is a relative concept<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90435\">All of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">How we calculate marginal utility ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90436\">\u2206TU\/\u2206Q<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90436\"> \u2206MU\/\u2206Q<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90436\"> \u2206Q\/\u2206TU<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90436\">\u2206Q\/\u2206MU<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">When TU becomes maximum, MU is:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90437\">Positive<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90437\"> Negative<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90437\">Zero<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90437\"> None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is true ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90438\"> TU increases till MU is positive<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90438\"> TU is maximum when MU is equal to zero<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90438\">TU declines when MU is negative<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90438\">All of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Who basically propounded the concept of Law of Equimarginal Utility ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90439\">Marshall<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90439\">Gossen<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90439\">Ricardo<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90439\">J. S. Mill<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In difference curve is:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90440\">Convex to the origin<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90440\">Concave to the origin<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90440\">Both (a) and (b) true<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90440\">All of these false<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The ability of satisfying human want in a goods is called its:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90441\">Productivity<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90441\"> Satisfaction<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90441\">Utility<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90441\"> Profitability<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Utility is related to:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90442\"> Usefulness<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90442\"> Morality<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90442\">Satisfaction of human wants<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90442\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Utility can be measured by:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90443\"> Money<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90443\"> Exchange of goods<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90443\">Weight of the good<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90443\"> None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Law of Equi-marginal utility is called:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90444\"> Law of increasing utility<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90444\"> Law of diminishing utility<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90444\"> Law of substitution<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90444\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Indifference curve slopes:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90445\">From right to left<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90445\"> From left to right<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90445\"> Both (a) and (b)<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90445\"> None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The addition of utilities obtained from all units of a goods is called :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90446\"> Marginal Utility<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90446\">Total Utility<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90446\"> Maximum Satisfaction<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90446\"> Additional Utility<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Who propounded the ordinal utility theory\u2019 ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90447\"> Marshall<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90447\"> Pigou<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90447\">Hicks and Allen<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90447\">Ricardo<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The propounder of law of diminishing marginal utility is:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90448\">Gossen<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90448\">Adam smith<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90448\"> Chapman<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90448\">Hicks<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Consumer\u2019s equilibrium takes at a point where:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90449\"> MU = Price<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90449\"> MU &lt; Price<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90449\">MU &gt; Price<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90449\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The capability of a commodity to satisfy human wants is:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_90450\"> Consumption<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_90450\">Utility<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_90450\">Quality<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_90450\">Taste<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n  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class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 2 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-3\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 3 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-4\/\">NCERT CLASS 4 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--5\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-5\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 5 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-6\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 6 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--7\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-7\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 7 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--8\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-8\/\">NCERT CLASS 8 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--9\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-9\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 9 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--10\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-10\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 10 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--11\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-11\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 11 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--12\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-12\/\">NCERT CLASS 12 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6643489308705072\" crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\" 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This specialized resource is designed to empower aspirants with a profound understanding of [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[70],"tags":[5120,4078,3307,121,91,5119,590,5118],"class_list":["post-6909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-class-11","tag-budget-constraints","tag-consumer-choices","tag-economics","tag-exam-preparation","tag-mcqs","tag-theory-of-consumer-behaviour","tag-upsc-ias","tag-utility-maximization","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=6909"}],"version-history":[{"count":2,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6909\/revisions"}],"predecessor-version":[{"id":6924,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6909\/revisions\/6924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/6919"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=6909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=6909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=6909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":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