C-03 — Utility, Demand, Supply, and Equilibrium

In economics, utility refers to:

Utility is best described as:

In economics, consumption means:

If clothes are destroyed in a fire, this is NOT considered consumption because:

In a market-based economy, a consumer is someone who:

Utility varies from person to person because it is:

A consumer derives utility through the act of:

Total utility is defined as:

Marginal utility is:

From the mango table (prices 5, 4, 3, 2 taka), total utility from 4 mangoes is:

From the table, the marginal utility of the 5th mango is:

From the table, the marginal utility of the 6th mango is:

When total utility is at its maximum, marginal utility is:

When the 7th mango is consumed, marginal utility becomes:

As consumption increases, total utility rises:

Total utility is the sum of:

If the 3rd mango costs tk 3 and gives satisfaction worth tk 3, its marginal utility is:

Consider the following statements about total and marginal utility:

The Law of Diminishing Marginal Utility states that as more units of a good are consumed:

The marginal utility curve slopes:

Which of the following is NOT a condition for the Law of Diminishing Marginal Utility to apply?

According to the law, as consumption increases, the price the consumer is willing to pay for each additional unit:

Consider the following conditions of the Law of Diminishing Marginal Utility:

In the diagram of diminishing marginal utility, the OX axis shows:

When marginal utility becomes zero, a rational consumer should:

How many conditions must be fulfilled to make a demand in economics?

Which of the following is NOT a condition of demand?

According to the Law of Demand, other things being constant, when price rises, quantity demanded:

The relationship between price and quantity demanded is:

From the demand schedule, when the price is tk 6, the quantity demanded is:

From the demand schedule, the quantity demanded is 16 units when the price is:

The demand curve slopes:

The phrase "other factors constant" in the Law of Demand does NOT include:

The schedule that shows different quantities demanded at different prices at a particular time is called:

Consider the following conditions for demand in economics:

Market demand is:

From the market demand schedule, when the price is tk 6, the market demand is:

From the market demand schedule, when the price is tk 4, the market demand is:

From the market demand schedule, when the price is tk 2, the market demand is:

The market demand curve is the:

Compared to individual demand curves, the market demand curve is:

In economics, supply refers to:

The three elements considered in the definition of supply are:

The Law of Supply states that the relationship between price and quantity supplied is:

If the price of potatoes per kg rises from tk 15 to tk 20, the seller's supply (according to the example):

From the supply schedule, when the price per quintal is tk 30, the quantity supplied is:

From the supply schedule, the quantity supplied is 40 quintals when the price is:

The supply curve slopes:

Consider the following factors held constant in the Law of Supply:

Market supply refers to:

From the market supply schedule, when the price is tk 10, market supply is:

From the market supply schedule, when the price is tk 15, market supply is:

From the market supply schedule, when the price is tk 20, market supply is:

The market supply curve is the horizontal summation of:

Compared to individual supply curves, the market supply curve is:

Equilibrium price is the price at which:

From the equilibrium table, the equilibrium price of the good is:

From the equilibrium table, the equilibrium quantity is:

From the table, when price is tk 5, demand is 6 units and supply is 2 units; therefore:

From the table, when price is tk 15, demand is 2 units and supply is 6 units; therefore:

Consider the following statements about market equilibrium:

How many conditions of demand are there in economics?

In a state of market equilibrium:

The total utilities of consuming oranges are: 1st = 15, 2nd = 18, 3rd = 20, 4th = 20, 5th = 19. What is the marginal utility of consuming the fourth unit of orange?

Using the same orange data, which statement is correct about consuming the fifth unit of orange?

What is meant by consumption in economics?

Why does the supply curve slope upward from left to right?

Which best describes the difference between total utility and marginal utility?

The demand of consumer Ka and Kha for good X at price tk 20 are 5 kg and 7 kg respectively. The market demand at this price is:

From the same data, when the price falls to tk 10, the market demand of good X (Ka 15 kg + Kha 15 kg) is:

As the price falls from tk 20 to tk 10, the market demand for good X:

Sujon wants to buy 120 kg of potatoes at tk 25/kg, but seller Karim wants to sell 160 kg at this price. This situation indicates:

After bargaining, the price of potatoes settles at tk 20/kg and Sujon buys 140 kg. This price represents:

Sujon's purchase of more potatoes when the price falls from tk 25 to tk 20 illustrates: