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Chapters
▶ 2: Consumption Analysis
3: Production Analysis
4: Cost and Revenue Analysis
5: Market Structure and Pricing
6: Distribution Analysis
7: Indian Economy
8: Indian Economy Before and After Independence
9: Development Experiences in India
10: Rural Economy
11: Tamil Nadu Economy
12: Mathematical Methods for Economics
![Samacheer Kalvi solutions for Economics [English] Class 11 TN Board chapter 2 - Consumption Analysis - Shaalaa.com](/images/economics-english-class-11-tn-board_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Samacheer Kalvi solutions for Economics [English] Class 11 TN Board chapter 2 - Consumption Analysis")
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Solutions for Chapter 2: Consumption Analysis
Below listed, you can find solutions for Chapter 2 of Tamil Nadu Board of Secondary Education Samacheer Kalvi for Economics [English] Class 11 TN Board.
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 2 Consumption Analysis Model Questions - Part A [Pages 50 - 51]
Multiple Choice Questions
Pick the odd one out
Luxuries
Comforts
Necessaries
Agricultural goods
Choice is always constrained or limited by the _____ of our resources.
Scarcity
Supply
Demand
Abundance
The chief exponent of the Cardinal utility approach was
J.R.Hicks
R.G.D.Allen
Marshall
Stigler
Marginal Utility is measured by using the formula of
TUn-TUn-1
TUn-TUn+1
TUn+TUn+1
TUn-TUn+1
When marginal utility reaches zero, the total utility will be
Minimum
Maximum
Zero
Negative
Gossen’s first law is known as.
Law of equi-marginal utility.
Law of diminishing marginal utility
Law of demand.
Law of Diminishing returns.
The basis for the law of demand is related to
Law of diminishing marginal utility
Law of supply
Law of Equi-marginal utility.
Gossen’s Law.
The concept of consumer’s surplus is associated with
Adam Smith
Marshall
Robbins
Ricardo
Given potential price is Rs.250 and the actual price is Rs.200. Find the consumer surplus.
375
175
200
50
Indifference curve approach is based on
Ordinal approach
Ordinal approach
Subjective approach
Psychological approach
The concept of elasticity of demand was introduced by
Ferguson
Keynes
Adam Smith
Marshall
Increase in demand is caused by
Increase in tax
Higher subsidy
Increase in interest rate
decline in population
The movement on or along the given demand curve is known as ______
Extension and contraction of demand
shifts in the demand
increase and decrease in demand
all the above
In case of relatively more elastic demand, the shape of the curve is
Horizontal
Vertical
Steeper
Flatter
A consumer is in equilibrium when marginal utilities from two goods are
Minimum
Inverse
Equal
Increasing
Indifference curve was first introduced by
Hicks
Allen
Keynes
Edgeworth
Elasticity of demand is equal to one indicates
Unitary Elastic Demand
Perfectly Elastic Demand
Perfectly Inelastic Demand
Relatively Elastic Demand
The locus of the points which gives same level of satisfaction is associated with
Indifference Curves
Cardinal Analysis
Law of Demand
Law of Supply
Ordinal Utility can be measured by
Ranking
Numbering
Wording
None of these
The indifference curve are
vertical
horizontal
positive sloped
Negatively sloped
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 2 Consumption Analysis Model Questions - Part B [Page 52]
Answer the following questions in one or two sentences
Define Utility.
Mention the classifications of wants.
Name the basic approaches to consumer behaviour.
What are the degrees of price elasticity of Demand?
State the meaning of indifference curves.
Write the formula of consumers surplus.
What are Giffen goods? Why it is called like that?
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 2 Consumption Analysis Model Questions - Part C [Page 52]
Answer the following questions in one paragraph
Describe the feature of human wants.
Mention the relationship between marginal utility and total utility.
Explain the concept of consumer's equilibrium with a diagram.
Explain the theory of “consumer’s surplus”.
Distinguish between extension and contraction of demand.
What are the properties of indifference curves?
Briefly explain the concept of consumer’s equilibrium.
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board 2 Consumption Analysis Model Questions - Part D [Page 52]
Answer the following questions in about a page
Explain the law of demand and its exceptions.
Elucidate the law of diminishing marginal utility with diagram.
Explain the law of Equi-marginal utility.
What are the methods of measuring Elasticity of demand?
Solutions for 2: Consumption Analysis
Samacheer Kalvi solutions for Economics [English] Class 11 TN Board chapter 2 - Consumption Analysis
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Concepts covered in Economics [English] Class 11 TN Board chapter 2 Consumption Analysis are Consumption Analysis, Human Wants, Characteristics of Human Wants, Classification of Goods, Cardinal Utility Analysis, The Law of Equi-marginal Utility, Consumer’s Surplus, Law of Demand, Elasticity of Demand, Ordinal Analysis (or) Ordinal Utility Approach (or) Hicks and Allen Approach (or) Indifference Curve Analysis, Indifference Curve, Indifference Map, Diminishing Marginal Rate of Substitution, Properties of Indifference Curve, Price Line Or Budget Line, Consumer Equilibrium.
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