Matching Type MCQs of Consumers Equilibrium Class 11 Micro-Economics

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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 – IColumn – II
A) Point of Satietyi) TU = 0
B) Slope of Indifference Curveii) Marginal Rate of Substitution
C) MUniii) TUn – TUn+1
D) Cardinal Utility Approachiv) Hicksian Analysis

Options

a) A) – i)
b) B) – ii)
c) C) – iii)
d) D) – iv)

Ans – b)

Write the Correct Pair

Column – AColumn – B
A – Cardinal Approachi) MUx/Px = MUm
B – Ordinal Approachii) TU = MU1 + MU2—–MUn
C – Budget setiii) PxQy + PyQx less euqal to M
D – Budget Lineiv) 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 – AColumn – B
i) Law of Equi-marginal utilityA – 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 – IColumn – II
A – Exceptions to law of diminishing marginal utilityi) Music
B- Prof. Gossenii) Indifference Curve Analysis
C – Prof. Allen and Hicksiii) 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 – AColumn – B
i) Slope of budget lineA – Marginal Rate of Substitution
ii) Slope of Indifference CurveB – 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 – AColumn – B
i) Initial UtilityA – A rational consumer always prefers more of a commodity as it offers him a higher level of satisfaction.
ii) Indifference Curve AnalysisB – Additional utility derived from consumption of one more unit of given commodity
iii) Slope of budget lineC – Hicksian Analysis
iv) Marginal UtilityD – Utility derived from first unit of a commodity
v) Monotonic PreferenceE – 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 – AColumn – B
i) Law of diminishing marginal utilityA – Slope of Indifference Curve
ii) MUB – Fundamental Psychological Law
iii) Marginal Rate of SubstitutionC – Point of satiety
iv) Indifference MapD – change in TU/Chane in Q
v) Zero Marginal UtilityE – 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 – AColumn – B
i) MUx/Px > MUy/PyA) Consumer should buy more of both commodities X and Y
ii) MUx/Px < MUy/PyB) 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 – AColumn – B
i) Budget Line is a straight line becauseA – 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 – AColumn – B
i) Equation of Budget LineA – 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)

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Articles: 2015

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