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SHS Economics · Year 2

Utility (Y2) practice questions

Advanced consumer behaviour theory, including consumer equilibrium and further applications of marginal utility analysis.

17 questions in this topic: 3 recall, 4 applying skills and concepts, 7 strategic thinking and 3 extended thinking. Every one carries a written explanation.

Sample questions

3 of 17 questions in this topic. Sign up to answer them and see the explanations.

  1. Question 1Strategic thinking

    Kudus' total utility from drinking bottles of water is: 8, 15, 21, 25, 27, 27 utils (bottles 1–6). What is the marginal utility of the 3rd bottle?

    • a6 utils
    • b21 utils
    • c7 utils
    • d15 utils
  2. Question 2Skills & concepts

    For a single commodity, a consumer is in equilibrium when

    • athe marginal utility of the good (MUx) equals its price (Px)
    • bthe total utility of the good equals zero
    • cthe average utility of the good is greater than its price
    • dthe price of the good is greater than the consumer's total income
  3. Question 3Recall

    Total utility is best described as

    • athe total satisfaction a consumer derives from consuming a certain amount of a good or service
    • bthe satisfaction gained from only the very last unit consumed
    • cthe price paid for a single unit of a good
    • dthe average price of all units of a good consumed

Answer these and 14 more on Utility (Y2)

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Year 1 covers this ground again in Utility, with 13 questions.

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