The Theory of Consumer Behaviour - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 2019

In other to enhance the utility of a particular commodity, it was moved from a place where it has little utility to another area where its utility is higher. This form of utility is referred to as?

A. Marginal utility
B. Form utility
C. Place utility
D. Total utility

Question 7:

• JAMB 2019

Utility is the satisfaction derived from____________

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

Question 8:

• JAMB 2019

By utility we mean____________

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

Question 9:

• JAMB 2017

Changing the structure of a commodity in order to increase its utility is called?

A. Time utility
B. Form utility
C. Marginal utility
D. Place utility

Question 10:

• JAMB 2017

The law of diminishing marginal utility states:

A. The supply curve slopes downward
B. Your utility grows at a slower and slower rate as you consume more and more unit of a good.
C. The elasticity of demand is infinite
D. None of the above