Question : Who has been coined the term “utility”?
Option 1: Pigou
Option 2: Marshall
Option 3: Hicks and allen
Option 4: Robbins
Correct Answer: Marshall
Solution : It is coined by the "Marshal". A commodity's utility is its ability to satisfy desires. It is the actual or anticipated satisfaction obtained from the consumption of a commodity. It is a good ability to satisfy a desire. Hence option b is correct answer.
Question : Who has propounded the law of diminishing marginal utility?
Option 1: Marshall
Option 2: AC Pigou
Option 3: Gossen
Option 4: Hicks and Allen
Question : Who has given ordinal utility theory?
Option 1: Alfred Marshall
Option 3: Hicks and Allen
Option 4: David Ricardo
Question : Who originated the fundamental cardinal concept of utility?
Option 1: Robbins
Option 2: Pal a Samuelson
Option 4: Alfred Marshall
Question : The economic definition of welfare is offered by ?
Option 1: Samuelson
Option 2: Alfred Marshall
Option 3: A,C Pigou
Option 4: Lionel Robbins
Question : Select the correct direct form of the given sentence.
We asked them who had called them.
Option 1: We said to them, “Who are calling you?”
Option 2: We said to them, “Who calls you?”
Option 3: We said to them, “Who has called him?”
Option 4: We said to them, “Who has called you?”
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