Basic Concepts of Theory of Consumer Behaviour - Jamb Economics Past Questions and Answers

Question 46:

• JAMB 2020

Utility is the satisfaction derived from?

A. Production
B. Distribution
C. Consumption
D. Demand

Question 47:

• JAMB 2021

By utility we mean ____________

A. Uselessness
B. Power of satisfying a want
C. Beneficial
D. Consumable

Question 48:

• JAMB 2021

Units of Quality Consumes	Total Utility	Marginal Utility
012345	-1015171818	-105210

This table illustrates the law of ____________

A. Increasing returns
B. Diminishing returns
C. Diminishing marginal utility
D. Increasing total utility