All Exams Test series for 1 year @ ₹349 only
Question

According to ____ theory, a consumer will continue to buy such products that will deliver him the most utility or maximum satisfaction at relative prices.

This question was previously asked in
SSC CGL 2018 (Tier 2) Statistics Previous Year Paper (22-feb-2018)
The correct answer is

Marginal Utility

The correct answer is option 3. According to the Marginal Utility theory, a consumer will buy goods and services until the marginal utility per unit of currency spent is the same for all goods, maximizing total utility or satisfaction.

Was this answer helpful?

Similar Questions

  1. The concept of consumer surplus was propounded by __________.

  2. Goods whose demand varies inversely with income are called ____ goods.

  3. _____ have an income elasticity of demand of between 0 and +1.

  4. Which of the following is true for a normal good when there is a decrease in consumer income?

  5. In relation to theory of consumers behaviour, which of the following statements is INCORRECT?


Important Questions from Consumer behaviour

  1. In the above diagram, the consumer surplus is represented by the area of :

  2. Organization responsible for preventing unfair or deceptive trade practices in textile and textile products is :
  3. The urge to possess and consume for display of wealth is called :
  4. Which of the following factors favour fashion ?
    (a) Leisure
    (b) An economy of abundance
    (c) Transportation and communication
    (d) Low income
    (e) Sumptuary laws
    Code :
  5. Arrange the following Acts in the ascending order of their years of enactment :
    (a) Environmental Protection Act
    (b) MRTP
    (c) PFA
    (d) ISI Certification Marks Act
    (e) Air Pollution Act
Need Expert Advice?
Upcoming Exams
SSC CPO
November 23, 2026
SSC CHSL
November 30, 2026
Test Series
SSC CGL img
SSC
SSC CGL (Tier I + Tier II) 2026 Mock Test Series - Latest Pattern
2509 Tests 6 Tests Free
8926 Attempts
4.2(945)
English, Hindi
More Questions from SSC CGL

Start Your Preparation with Prepp Mobile App

Download the app from Google Play & App Store
Download the app from Google Play & App Store
Prepp Mobile App