Ünite Sınavı Soruları

“It is defined as the number of units of good Y that must be given up if the consumer, after receiving an extra unit of good X, is to maintain a constant level of satisfaction or utility”.

Which term is described above?

• If a consumer buys less of a good when his or her income rises, the good is called an …….
• ……….. will have better quality alternatives.
• When income rises, people can afford to forego the cheap ………… and buy the higher quality good instead.

Which of the following can fill the above blanks most appropriately?

The consumer chooses between the consumption of the two goods so that the marginal rate of substitution equals the _________ price.

Which of the followins best fits the blank above?

Suppose that consumer A decreases her X consumption after she experienced an increase in her income. What type of a good is X?

Which of the following could be said for luxury goods’s demand when income increases?

What can be said about the substitution effect created by a decrease in the price of a good?

_________ is the combinations of quantities of X and Y that a consumer can purchase with certain amount of income or earning. 

Which of the followings best fills in the blank?

Which of the following laws explains the additional utility derived from consuming successive units of a product will eventually decline as the rate of consumption increases?

Which of the followings is not among the basic assumptions that economics have about the nature of the consumer’s tastes or preferences?

If MUA/PA < MUB/PB, which of the following is the most appropriate behavior for the consumer to reach equilibrium?

“They illustrate the relationship between consumer demand and household income and for normal goods slope upwards – the flatter the slope the more luxurious the good, and the greater the income elasticity. In contrast, they have a negative slope for inferior goods”.

Which term is described above?

The likelihood that a consumer will spend the necessary time, effort, and money to gather information (about items or goods he or she wants to buy) is directly related to its _______ to the consumer.

What is the name of the curve which connects of all points representing the equilibrium market baskets corresponding to all possible levels of money income?

“If two products have the same cost, a consumer would choose to purchase the one expected to have the higher benefit. On the other hand, if two products yield equal benefits, the consumer would choose to purchase the cheaper one”.

Which fundamental principle underlying consumer behavior is described above?

Which of the following is the result of a fall in interest rates on saving?

Consumption choices are limited by ___________.

Which of the followings best completes the blank?

Which of the following statement is correct about the slopes of the indifference curve and the budget line at the point where consumer equilibrium occurs?

What kind of effect is mentioned below?

“It is the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve. For example: The consumer is richer, so he buys more pizza”.

I. More goods are preferable to fewer goods— thus, bundles on indifference curves lying nearest to the northeast of a diagram are always preferred.

II. Goods are substitutable—therefore, indifference curves slope downward to the right.

III. Indifference curves cannot cross each other, if they did, the rational ordering among preferences would be violated.

IV. Indifference curves are everywhere dense. We can not draw an indifference curve through any point on the diagram.

V. The valuation of a good increases as it is consumed more intensively—therefore, indifference curves are always convex.

About the indifference curves, some of the above given statements are wrong. Which of the following choice shows the only correct (true) statement/s about the indifference curves?

How do we express “the change in our total utility from a one-unit change in our consumption of a good”?