CUET Economics - Micro - Consumer Behaviour | Free Questions - Page 5

Q1:

2025: 13 May Shift 1

Micro

>

Consumer Behaviour

Easy

Match List-I with List-II

List-I	List-II
(A) Analysis assumes that level of utility can be expressed in numbers.	(I) Cardinal Utility
(B) Change in total utility due to consumption of one additional unit of a commodity	(II) Law of Diminishing Marginal Utility.
(C) Marginal utility from consuming each additional unit of a commodity declines as its consumption increases.	(III) Marginal Utility
(D) The amount of mangoes that the consumer has to forego in order to get an additional banana, her total utility level being the same.	(IV) Marginal rate of substitution

Choose the correct answer from the options given below:

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 2

Correct Answer

Explanation

Q2:

2025: 13 May Shift 1

Micro

>

Consumer Behaviour

Medium

Find the correct statement/statements.

(A) Goods which are consumed together are called complementary goods.

(B) The market demand curve can be derived as a vertical summation of the individual demand curves.

(C) Price elasticity of demand is a measure of the responsiveness of the demand for a good to changes in its price.

(D) If the consumer's preferences change in favor of a good, the demand curve for such a good shifts leftward.

Choose the correct answer from the options given below:

(A) and (C) only

(A), (B) and (C) only

(A) and (D) Only

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation

Q3:

2024: 16 May

Micro

>

Consumer Behaviour

Easy

(A) Marginal Utility is the change in Total Utility due to consumption of one additional unit of

commodity.

(B) Two Indifference Curves intersect each other.

(C) Marginal Utility becomes Zero at a level when Total Utility remains constant.

(D) Diminishing Marginal Rate of Substitution does not affect Indifference Curve.

(E) Indifference Curve slopes downwards from left to right.

Which of the following are correct statements?

(A), (B) and (C) only

(A), (C) and (E) only

(A), (D) and (E) only

(B), (D) and (E) only

Correct Answer

Option 2

Correct Answer

Explanation

Q4:

2024: 16 May

Micro

>

Consumer Behaviour

Easy

Match List-I with List-II
List-I (Characteristic)	List-II (Explanation)
(A) Equilibrium	(I) Plans of all the consumers and firms in the market match
(B) Excess supply	(II) Demand decreases with an increase in income
(C) Inferior good	(III) Supply is greater than market demand
(D) Price ceiling	(IV) Imposition of upper limit by government

Match List-I with List-II :

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (I), (B) - (III), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Correct Answer

Option 2

Correct Answer

Explanation

Q5:

2024: 16 May

Micro

>

Consumer Behaviour

Easy

When Elasticity of Demand Curve is 1 at every point on the Demand Curve, this curve is known as:

Perfectly inelastic demand curve

Perfectly elastic demand curve

Rectangular Hyperbola

Greater than unitary demand curve

Correct Answer

Option 3

Correct Answer

Explanation

Q6:

2024: 16 May

Micro

>

Consumer Behaviour

Hard

According to the Theory of Consumer Behaviour, $P_1X_1 + P_2X_2 ≤ M$ is called the Consumer's _____________

Budget

Budget Set

Budget Constraint

Budget Behaviour

Correct Answer

Option 3

Correct Answer

Explanation

Q7:

2023: 20 June Shift 1

Micro

>

Consumer Behaviour

Medium

Arrange the following of elasticities of demand in increasing order as per geometric method.

A. Mid-Point of the demand curve

B. Intercept on Y-axis

C. Between Mid-Point and intercept on X-axis

D. Between Mid-Point and intercept on Y-axis

E. Intercept on X-axis

Choose the correct answer from the options given below:

A, B, C, D, E

D, B, A, E, C

B, D, A, C, E

E, C, A, D, B

Correct Answer

Option 4

Correct Answer

Explanation

Q8:

2023: 20 June Shift 1

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

The goods which can be used in place of each other are called ?

Normal goods

Complementary goods

Substitute goods

Giffen goods

Correct Answer

Option 3

Correct Answer

Explanation

Q9:

2023: 20 June Shift 1

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

The demand for a good moves in opposite direction if change in the price of its __________ :

Complementary goods

Substitute goods

Inferior goods

Consumption goods

Correct Answer

Option 1

Correct Answer

Explanation

Q10:

2023: 20 June Shift 1

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

If the price of coffee increases then consumption of tea also increases it implies that tea and coffee are __________ .

Substitute good

Giffen good

Complementary good

Perishable good

Correct Answer

Option 1

Correct Answer

Explanation

Q11:

2023: 20 June Shift 1

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

Car and petrol are the example of _________ goods .

Normal goods

Inferior goods

Substitute goods

Complementary goods

Correct Answer

Option 4

Correct Answer

Explanation

Q12:

2023: 20 June Shift 1

Micro

>

Consumer Behaviour

Easy

The quantity of a good that the consumer chooses can increase or decrease with the rise in the price of a related goods depending on whether the two goods are substitutes or complementary to each other. Goods which are consumed together are called complementary goods. Examples of goods which are complement to each other include tea and sugar, shoes and socks, pen and ink, etc. Since tea and sugar are used together, an increase in the price of sugar is likely to decrease the demand for tea and decrease in the price of sugar is likely to increase the demand for tea. Similar is the case with other complements. In general, the demand for a good moves in the opposite direction of the price of its complementary goods.

Those goods which can be used together are called _______ goods .

Substitute goods

Complementary goods

Consumption goods

Capital goods

Correct Answer

Option 2

Correct Answer

Explanation

Q13:

2023: 11 June Shift 3

Micro

>

Consumer Behaviour

Medium

In the Linear Demand Curve AB, the elasticity of demand ( $e_D$ ) at point D can be measured geometrically by the formula __________.

$e_D = \frac{DA}{DB}$

$e_D = \frac{DB}{DA}$

$e_D = \frac{BK}{KA}$

$e_D = \frac{KA}{BK}$

Correct Answer

Option 1

Correct Answer

Explanation

Q14:

2023: 11 June Shift 3

Micro

>

Consumer Behaviour

Easy

An explanation for a downward sloping demand curve rests on the notion of :

Ordinal Utility Analysis

Diminishing Average Utility

Diminishing Marginal Utility

Diminishing Aggregate Utility

Correct Answer

Option 3

Correct Answer

Explanation

Q15:

2023: 11 June Shift 3

Micro

>

Consumer Behaviour

Easy

A Consumer's total utility level being the same, the amount of good 'X' that the consumer has to forego, in order to get an additional unit of good Y is termed as :

Monotonic preference

Marginal Rate of substitution

Marginal Rate of transformation

Diminishing Marginal Utility

Correct Answer

Option 2

Correct Answer

Explanation

Q16:

2023: 11 June Shift 3

Micro

>

Consumer Behaviour

Medium

Which of the following statements correctly describes the nature of indifference curve ?

(A) Indifference curve slopes downwards from left to right

(B) A lower indifference curve represents lower cost to consumer

(C) A higher indifference curve gives higher level of satisfaction

(D) Two indifference curves never intersect each other

(E) Indifference curves are always parallel to each other

Choose the correct answer from the options given below :

(A), (B), (D) Only

(B), (C), (E) Only

(A), (C), (D) Only

(C), (D), (E) Only

Correct Answer

Option 3

Correct Answer

Explanation

Q17:

2023: 1 June Shift 1

Micro

>

Consumer Behaviour

Easy

Which of the following inequality represents the consumer's budget constraint ?

$p_1x_1 + p_2x_2 = M$

$p_1x_1 + p_2x_2 < M$

$p_1x_1 + p_2x_2 \leq M$

$p_1x_1 + p_2x_2 > M$

Correct Answer

Option 3

Correct Answer

Explanation

Q18:

2023: 1 June Shift 1

Micro

>

Consumer Behaviour

Medium

Savita consumes 2 goods X and Y. If marginal utility of X is 30 utils and that of Y is 45 utils. Prices of both goods X and Y are Rs. 3 and Rs. 5 respectively. Savita will consume ________.

More of good X

More of good Y

More of both good X and good Y

More of either good X or good Y

Correct Answer

Option 1

Correct Answer

Explanation

Q19:

2023: 30 May Shift 1

Micro

>

Consumer Behaviour

Easy

Match List - I with List - II.

List - I	List - II
(A) Indifference curve	(I) Shows various combination of two goods that give the same utility to the consumer
(B) Production possibility curve	(II) Shows various combination of two goods that can be produced by an economy
(C) Budget line	(III) Shows various combination of two goods that can be purchased by the consumer
(D) Demand curve	(IV) Shows inverse relationship between price of the given commodity & its quantity demanded

Choose the correct answer from the options given below :

(A)-(IV), (B)-(III), (C)-(II), (D)-(I)

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

(A)-(II), (B)-(III), (C)-(I), (D)-(IV)

(A)-(III), (B)-(II), (C)-(I), (D)-(IV)

Correct Answer

Option 2

Correct Answer

Explanation

Q20:

2023: 30 May Shift 1

Micro

>

Consumer Behaviour

Easy

A good that is considered to be inferior to a consumer, may be observed as normal good to the another consumer. This is due to

Quality of the consumer

Income of the consumer

Quantity of the consumer

Producer of the good

Correct Answer

Option 2

Correct Answer

Explanation

Q21:

2023: 30 May Shift 1

Micro

>

Consumer Behaviour

Medium

If ratio between the change in price & change in quantity demanded is 0.25. The consumer demands 100 units at an initial price of Rs 10 per unit. Calculate the price elasticity of demand.

(-) 0.025

(-) 0.040

(-) 0.40

(-) 0.25

Correct Answer

Option 3

Correct Answer

Explanation

Q22:

2023: 29 May Shift 2

Micro

>

Consumer Behaviour

Easy

"Increase in price of good 'x' leads to increase in demand of good 'Y'. " How the goods are related to.

Complementary goods

Normal goods

Inferior goods

Substitute goods

Correct Answer

Option 4

Correct Answer

Explanation

Q23:

2023: 29 May Shift 2

Micro

>

Consumer Behaviour

Easy

Elasticity of Demand is given by the formula.

$\frac{Q}{\Delta Q} \times \frac{P}{\Delta P}$

$\frac{\Delta Q}{Q} \times \frac{P}{\Delta P}$

$\frac{\Delta P}{P} \times \frac{\Delta Q}{Q}$

$\frac{\Delta Q}{P} \times \frac{Q}{P}$

Correct Answer

Option 2

Correct Answer

Explanation

Q24:

2023: 29 May Shift 2

Micro

>

Consumer Behaviour

Medium

Suppose an Individual buys 15 units of good when its price is Rs 5 per unit. What will happen to his demand when price of the good increases to Rs 7 per unit and elasticity of demand for the good is 0.5

Increase his demand

No change in his demand

Reduce his demand

Shift to other Good.

Correct Answer

Option 3

Correct Answer

Explanation

Q25:

2023: 28 May Shift 2

Micro

>

Consumer Behaviour

Easy

A consumer is a rational individual who knows, what is good and bad for him/her. So he always tries to achieve the best to get maximum satisfaction. Thus, the consumer chooses the set of bundles as per his preference which is best for him. The consumer always prefers to move to a point on the highest possible indifference curve given on the budget set. The slope of the budget line is the rate at which the consumer is able to substitute one good for the other in the market.

The indifference curve is :

Positive

Upward

Concave

Convex

Correct Answer

Option 4

Correct Answer

Explanation

Q26:

2023: 28 May Shift 2

Micro

>

Consumer Behaviour

Easy

A consumer is a rational individual who knows, what is good and bad for him/her. So he always tries to achieve the best to get maximum satisfaction. Thus, the consumer chooses the set of bundles as per his preference which is best for him. The consumer always prefers to move to a point on the highest possible indifference curve given on the budget set. The slope of the budget line is the rate at which the consumer is able to substitute one good for the other in the market.

All the points on Indifference curve represent :

The same price

Bundles which are considered indifferent by the consumer

Straight line

Bundles which are considered same by the consumer

Correct Answer

Option 2

Correct Answer

Explanation

Q27:

2023: 28 May Shift 2

Micro

>

Consumer Behaviour

Easy

A consumer is a rational individual who knows, what is good and bad for him/her. So he always tries to achieve the best to get maximum satisfaction. Thus, the consumer chooses the set of bundles as per his preference which is best for him. The consumer always prefers to move to a point on the highest possible indifference curve given on the budget set. The slope of the budget line is the rate at which the consumer is able to substitute one good for the other in the market.

A rational consumer is the one who has :

Many set of bundles

Monotonic preference

With high budget

Not ready to substitute one good for the other

Correct Answer

Option 2

Correct Answer

Explanation

Q28:

2023: 28 May Shift 2

Micro

>

Consumer Behaviour

Easy

A consumer is a rational individual who knows, what is good and bad for him/her. So he always tries to achieve the best to get maximum satisfaction. Thus, the consumer chooses the set of bundles as per his preference which is best for him. The consumer always prefers to move to a point on the highest possible indifference curve given on the budget set. The slope of the budget line is the rate at which the consumer is able to substitute one good for the other in the market.

Which is an example of substitute good ?

Pen and ink

Car and petrol

Tea and Coffee

Shoes and socks

Correct Answer

Option 3

Correct Answer

Explanation

Q29:

2023: 28 May Shift 2

Micro

>

Consumer Behaviour

Easy

A consumer is a rational individual who knows, what is good and bad for him/her. So he always tries to achieve the best to get maximum satisfaction. Thus, the consumer chooses the set of bundles as per his preference which is best for him. The consumer always prefers to move to a point on the highest possible indifference curve given on the budget set. The slope of the budget line is the rate at which the consumer is able to substitute one good for the other in the market.

If the budget line is tangent to an indifference curve at a point, absolute value of the MRS and the Budget line are __________ at that point.

More

High

Less

Same

Correct Answer

Option 4

Correct Answer

Explanation

Q30:

2022: 30 Aug Shift 2

Micro

>

Consumer Behaviour

Medium

Match List - I with List - II.

List - I	List - II
(A) Fall in price of good	(I) Tea and coffee
(B) Complementary goods	(II) Expansion of demand
(C) Substitute good	(III) Shifting of demand curve
(D) Rise in income	(IV) Shoes and socks

Choose the correct answer from the options given below :

(A) - (II), (B) - (III), (C) - (IV), (D) - (I)

(A) - (II), (B) - (IV), (C) - (I), (D) - (III)

(A) - (III), (B) - (I), (C) - (II), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

Correct Answer

Option 2

Correct Answer

Explanation

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