Lesson 4.1.2.1
4.1.2.1 Consumer behaviour Quiz: AQA Economics, Unit 1
20 questions
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Lesson 4.1.2.1, Consumer behaviour: 20 multiple choice questions for the AQA Economics (7136), Unit 1: Individuals, firms, markets and market failure, written with Revision Ninja.
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The 20 questions
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Total utility is best defined as the total:
- Price paid
- Cost of production
- Satisfaction from consumption
- Extra unit satisfaction
-
Marginal utility measures the change in total utility from:
- A price change
- Total units consumed
- One additional unit
- An income change
-
According to diminishing marginal utility, as consumption of a good rises, marginal utility:
- Equals total utility
- Rises
- Falls
- Remains constant
-
Consumer A eats apples. Total utility from 1, 2, 3 and 4 apples is 10, 18, 23 and 25 utils. What is the marginal utility of the third apple?
- 23 utils.
- 3 utils.
- 8 utils.
- 5 utils.
-
A consumer's total utility from 1, 2, 3 and 4 apples is 10, 18, 23 and 25 utils. What is the marginal utility of the fourth apple?
- 2 utils.
- 25 utils.
- 4 utils.
- 7 utils.
-
Total utility continues to rise as long as marginal utility is:
- Negative
- Positive
- Zero
- Falling to zero
-
In consumer theory, a rational consumer maximises utility when marginal utility per pound spent is:
- Maximised for one
- Zero for all
- Equal across goods
- Greater than price
-
Diminishing marginal utility leads to a downward-sloping demand curve because additional units provide:
- Less extra utility
- Higher market prices
- Greater total utility
- Zero opportunity cost
-
In consumer decision making, 'the margin' refers to:
- The additional unit
- The average cost
- The maximum budget
- The total output
-
If chocolate gives 12 utils per pound and magazines give 9, what should a consumer buy?
- More magazines
- More chocolate
- Fewer goods
- Equal quantities
-
What is a fundamental assumption about rational consumers in traditional economic theory?
- They avoid saving
- They ignore prices
- They minimise spending
- They maximise utility
-
Total utility for units 1 to 5 is 10, 18, 24, 28, 26. Which unit yields negative marginal utility?
- First unit
- Third unit
- Fourth unit
- Fifth unit
-
What shape does diminishing marginal utility give to an individual consumer's demand curve?
- Vertical
- Horizontal
- Upward sloping
- Downward sloping
-
In traditional economic theory, what are consumers assumed to maximise?
- Marginal cost
- Total utility
- Consumer surplus
- Total revenue
-
What happens to marginal utility as a consumer eats additional units of a chocolate bar?
- It decreases
- It becomes infinite
- It increases
- It stays constant
-
A good gives 40 utils of utility and costs £4. What is its utility per pound?
- 4 utils
- 160 utils
- 0.1 utils
- 10 utils
-
Good X yields 10 utils per pound and good Y yields 15. To increase utility, buy:
- Less Y
- More Y
- Only X
- More X
-
In marginal analysis, consumer purchasing decisions depend on comparing marginal utility with:
- Price
- Average cost
- Total utility
- Total revenue
-
Economic choices about purchasing one additional unit of a good depend on:
- Marginal utility
- Total utility
- Fixed utility
- Average utility
-
If total utility rises from 40 to 43 utils upon eating a fifth ice cream, what is marginal utility?
- 7 utils
- 43 utils
- 8.6 utils
- 3 utils
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