Matching Type MCQs of Consumers Equilibrium Class 11 Micro-Economics
Looking for important Matching Type MCQs of Consumers Equilibrium chapter with answers and solution of class 11 Microeconomics CBSE Board and State Board.
We have compiles a good list of very important Multiple Choice Questions with answers of the Consumers Equilibrium Chapter of Economics Class 11.
Matching Type Multiple Choice Questions with answers of Consumers Equilibrium Chapter of Microeconomics class 11
Let’s Practice
From the set of statements given in Column I and Column II, Choose the correct pair of statements.
| Column – I | Column – II |
| A) Point of Satiety | i) TU = 0 |
| B) Slope of Indifference Curve | ii) Marginal Rate of Substitution |
| C) MUn | iii) TUn – TUn+1 |
| D) Cardinal Utility Approach | iv) Hicksian Analysis |
Options
a) A) – i)
b) B) – ii)
c) C) – iii)
d) D) – iv)
Ans – b)
Write the Correct Pair
| Column – A | Column – B |
| A – Cardinal Approach | i) MUx/Px = MUm |
| B – Ordinal Approach | ii) TU = MU1 + MU2—–MUn |
| C – Budget set | iii) PxQy + PyQx less euqal to M |
| D – Budget Line | iv) PxQx + PyQy = M |
Options
a) A – i)
b) B – ii)
c) C – iii)
d) D – iv)
Ans – d)
Match the statements given under A with the correct options given under B.
| Column – A | Column – B |
| i) Law of Equi-marginal utility | A – Gossen’s first law of consumption |
| B – Gossen’s Second Law |
Options
a) i) – A
b) i) – B
Ans – b)
Write the correct sequence of options in Column II by Matching them with options of Column I.
| Column – I | Column – II |
| A – Exceptions to law of diminishing marginal utility | i) Music |
| B- Prof. Gossen | ii) Indifference Curve Analysis |
| C – Prof. Allen and Hicks | iii) Law of diminishing marginal utility |
Options
a) i) – A, B – ii), C – iii)
b) i) – A, B – iii), C – ii)
c) iii) – A, B – ii), C – i)
d) ii) – A, iii) – B, C – i)
Ans – b)
Match the statements given under A with the correct options given under B.
| Column – A | Column – B |
| i) Slope of budget line | A – Marginal Rate of Substitution |
| ii) Slope of Indifference Curve | B – Price Ratio |
Options
a) i) – B, ii) – a
b) i) – A, ii) – B
Ans – a)
Match the statements given under A with the correct options given under B.
| Column – A | Column – B |
| i) Initial Utility | A – A rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction. |
| ii) Indifference Curve Analysis | B – Additional utility derived from consumption of one more unit of given commodity |
| iii) Slope of budget line | C – Hicksian Analysis |
| iv) Marginal Utility | D – Utility derived from first unit of a commodity |
| v) Monotonic Preference | E – Price Ratio |
Options
a) i) – A, ii) – B, iii) – C, iv) – D, v) – E
b) i) – D, ii) – C, iii) – E, iv) – B, v) – A
c) i) – B, ii) – A, iii) – C, iv) – D, v) – E
d) i) – C, ii) – B, iii) – A, iv) – D, v) – E
Ans – b)
Match the statements given under A with the correct options given under B.
| Column – A | Column – B |
| i) Law of diminishing marginal utility | A – Slope of Indifference Curve |
| ii) MU | B – Fundamental Psychological Law |
| iii) Marginal Rate of Substitution | C – Point of satiety |
| iv) Indifference Map | D – change in TU/Chane in Q |
| v) Zero Marginal Utility | E – Family of indifference curves |
Options
a) i) – B, ii) – D, iii) – A, iv) – E, v) – C
b) i) – A, ii) – B, iii) – C, iv) – D, v) – E
c) i) – C, ii) – A, iii) – B, iv) – D, v) – E
d) i) – E, ii) – D, iii) – C, iv) – B, v) – A
Ans – a)
Match the statements given under A with the correct options given under B
| Column – A | Column – B |
| i) MUx/Px > MUy/Py | A) Consumer should buy more of both commodities X and Y |
| ii) MUx/Px < MUy/Py | B) Consumer should buy less of both commodities X and Y |
| C) Consumer should buy more of commodity X | |
| D) Consumer should buy more of commodity Y |
Options
a) i) – A, ii) – B
b) i) – C, ii) – D
c) i) – B, ii) – A
d) i) – D, ii) – B
Ans – b)
Match the statements given under A with the correct options given under B.
| Column – A | Column – B |
| i) Budget Line is a straight line because | A – Price Ratio or MRE decreases |
| B – Price Ratio or MRE is contant | |
| C – Price Ratio or MRE increasea |
Options
a) i) – A
b) i) – B
c) i) – c
Ans – b)
Match the statements given under A with the correct options given under B.
| Column – A | Column – B |
| i) Equation of Budget Line | A – PxQx – PyQy = M |
| B – PxQx + PyQy less equal to M | |
| C – PxQx + PyQy = M |
Options
a) i) – A
b) i) – B
c) i) – C
Ans – c)
