Utility - Jamb Economics Past Questions and Answers

Question 11:

• JAMB 1978

As consumption of beer increases, its marginal utility to a drinker will

A. Increase
B. Remain constant
C. Fluctuate
D. Decrease
E. Change proportionally

Question 12:

• JAMB 1979

By utility we mean

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

Question 13:

• JAMB 1979

In most cases the marginal utility derived from a particular good

A. Increases as additional units are consumed
B. Increases at a decreasing rate as additional units are consumed
C. Decreases at a constant rate as additional units are consumed
D. Decreases as additional units are consumed
E. Remains constant as additional units are consumed

Question 14:

• JAMB 1980

Utility of a commodity means?

A. Its usefulness
B. Power to satisfy a want
C. Price of the commodity
D. Satisfaction derived from the product of commodity
E. Its adaptability

Question 15:

• JAMB 1989

The marginal theory of distribution makes an assertion that the price of any factor depends upon its marginal?

A. Utility
B. Productivity
C. Rate of substitution
D. Revenue