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प्रश्न
State the following statement is True or False:
Utility depends upon intensity of want.
पर्याय
True
False
उत्तर
Utility depends upon intensity of want. - True
Explanation: The above statement is true. Utility is the satisfaction that a consumer expects to derive from the consumption of a particular unit of a good. It depends on the intensity of want of the particular unit of the good. The greater the intensity of want, the greater would be satisfaction that the consumer would derive from the consumption of that unit of the commodity. That is, there is a strong and positive relationship between utility and the intensity of want.
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संबंधित प्रश्न
Define utility.
What is 'ordinal' utility?
Give reason or explain the following statement:
Utilly is ethically neutral.
Fill in the blank with appropriate alternative given in the bracket:
_________________ is the power of commodity to fulfill human wants.
(b) marginal utility
(c) place utility
(d) total utility
Give reasons or explain the following statements:
Utility means not usefulness.
Fill in the blank with appropriate alternatives given below :
_________________ refers to want satisfying power of a commodity.
Match the columns:
| Column “A” | Column “B” |
| 1. Marginal utility | a. Maximum TU |
| 2. Point of satiety | b. Assumption of law of DMU |
| 3. Form utility | c. Utility from last unit |
| 4. Cardinal measurement | d. Exemption of law of DMU |
| 5. Service utility | e. Furniture from wood |
| f. Knowledge by teacher | |
| g. Minimum TU |
State the following statement is True or False:
Utility is the basis of demand.
Give reason or explain:
Utility is a subjective concept.
Give reason or explain:
Utility and happiness are different.
Give reason or explain the following.
Utility and satisfaction are different concepts.
