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Question
Toys made of clay: ______:: Woollen clothes : place utility
Solution
Toys made of clay: Form utility:: Woollen clothes : place utility
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RELATED QUESTIONS
What are the characteristics of utility?
Identify and explain the concept from the given illustration:
Bhushan refused to eat fifth chapati after eating four chapatis.
Identify and explain the concept from the given illustration:
Lalita satisfied her want of writing an essay by using pen and notebook.
Aggregate utility from all units consumed : Total utility :: Additional utility from last unit consumed : ______.
Utility that arises when ownership of goods is transferred from one person to another −
Find the odd word
Types of utility -
Assertion (A): Utility depends on the intensity of want.
Reasoning (R): The concept of utility has no ethical consideration.
Identify & explain the concept from the given illustration.
Rohan created a jewellery box out of pieces of wood.
Explain any four types of utility
Explain any four features of utility.
Questions:
- When Total utility increases Marginal utility ______ (1m)
- Name the unit where consumer will be derived disutility_______ (1m)
- When the total utility is maximum, the marginal utility is____(1m)
- Name the unit where consumer will derive maximum satisfaction__ (1m)
State with reason whether you agree or disagree with the following statement:
Utility and satisfaction are one and the same.
- Assertion (A): Utility has an inverse relation with the intensity of want.
- Reasoning (R): A hungry individual finds more utility in food than a person who is not so hungry.
- Assertion (A): Utility can be measured cardinally.
- Reasoning (R): Utility is a psychological concept.
Complete the correlation:
Poison : ______ : : Buttermilk : Usefulness.
Give an economic term:
Want satisfying capacity of a commodity.
