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Assignment On Consumer Equilibrium (Basic Concepts)

The document is an outline for a Class XI Economics chapter on Consumer's Equilibrium, featuring one-mark and short-answer questions related to utility concepts. It covers definitions and calculations of total utility, marginal utility, and the law of diminishing marginal utility. Additionally, it includes higher-order thinking questions to encourage deeper analysis of the concepts presented.

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76 views1 page

Assignment On Consumer Equilibrium (Basic Concepts)

The document is an outline for a Class XI Economics chapter on Consumer's Equilibrium, featuring one-mark and short-answer questions related to utility concepts. It covers definitions and calculations of total utility, marginal utility, and the law of diminishing marginal utility. Additionally, it includes higher-order thinking questions to encourage deeper analysis of the concepts presented.

Uploaded by

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Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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AMITY INTERNATIONAL SCHOOL

SUBJECT: ECONOMICS
CLASS XI
CHAPTER – CONSUMER’s EQUILIBRIUM (Basic Concepts)

ONE MARKER QUESTION:


1. Define utility.

2. Define total utility.

3. How much is total utility at zero level of consumption?

4. How is total utility derived from marginal utility?

5. Define marginal utility.

6. If one burger gives you satisfaction of 15 utils and 2 burgers generate total
satisfaction of 25 utils, then calculate the marginal utility of second burger.

7. What happens to marginal utility, when the total utility is maximum?

8. Why doesTU increase at a diminishing rate due to continuous increase in


consumption?

9. What is law of diminishing marginal utility.

10. What is meant by consumer’s equilibrium?

SHORT ANSWER TYPE QUESTIONS (3-4 MARKS)


1. What changes will take place in TU, when:

(i) MU curve remains above the X-axis;

(ii) MU curve touches the X-axis;

(iii) MU curve lies below the X-axis.

H.O.T.S

1. “Law of diminishing marginal utility will operate even if consumption takes place in
intervals.” Defend or refute.

2. “TU remains the same, whether MU is positive or negative”. Defend or refute.

AISMV/SR-22/ECO/EE

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