List of top Economics Questions on Consumer theory asked in UP Board XII

Explain consumer's equilibrium by utility analysis. OR When the price of a commodity decreases from Rs. 5 per unit to Rs. 4 per unit, its demand increases from 100 units to 110 units. Calculate elasticity of demand.
How the demand of a commodity is affected by changes in the price of the commodity? Explain with the help of a diagram.
Explain consumer's equilibrium with the help of indifference curves.
OR
When the price of a commodity increases from Rs. 10 per unit to Rs. 11 per unit, demand shrinks from 100 units to 90 units. Calculate elasticity of demand.
Explain various degrees of elasticity of demand diagrammatically.
What do you mean by "Utility"?
If the demand curve is parallel to the x-axis, then elasticity of demand is
Explain Law of Diminishing Marginal Utility with the help of an example and diagram.
What is called "Demand"? Explain the major factors affecting it.
What is "Marginal Utility"?
If the demand curve is parallel to the y-axis then elasticity of demand is
What do you understand by Average Utility ?
What is Indifference Curve ?
The law of Equi-Marginal Utility was propounded by
Explain the Law of Variable Proportions with the help of total product and marginal product curves.
OR
Explain the law of supply with the help of a supply schedule and supply curve.
How is the price and output of a commodity determined under perfect competition? Explain.
OR
Calculate Marginal Propensity to Consume and Average Propensity to Consume from the following data:
Income (Rupees)): 50, 100, 150
Consumption (Rupees): 60, 100, 120
What do you understand by Consumer's equilibrium? Show Consumer's equilibrium with the help of Indifference Curve Analysis.
Write the meaning of Production Cost. Explain Average cost with the help of a diagram.
Write any three factors affecting the Elasticity of Demand.
What is 'Production Function'?
Which of the following formula is correct for calculating marginal cost?
Average fixed cost curve
Explain the 'Law of Equi-Marginal Utility' in the analysis of consumer’s equilibrium.
Explain the law of diminishing marginal rate of substitution in indifference curves, with the help of diagram.
‘Higher indifference curve represents higher level of satisfaction.’ Explain.
Differentiate between Normal goods and Inferior goods.