MICROECONOMICS

What do you call an important variable in the market who demands the goods and services?

• Consumer

• Consumer Behavior

• Consumer Goods

• Consumer Surplus

This variable in the market refer to anything that provides satisfaction to the needs, wants and desires of the consumer.

• Goods

• Services

• Taste

• Preference

This refers to any intangible economic activities that contribute directly or indirectly to the satisfaction of human wants.

• Goods

• Services

• Taste

• Preference

Which type of goods refers to anything that yields satisfaction directly to any consumer.

• Consumer Goods

• Essential Goods

• Luxury Goods

• Necessity Goods

These are goods that satisfy the basic human needs

• Consumer Goods

• Essential Goods

• Luxury Goods

• None of the above

What do you call those goods which man may do without, but brings comfort and well-being to him?

• Consumer Goods

• Essential Goods

• Luxury Goods

• Necessity Goods

Which of the following identifies the basic priorities of every consumer?

• Bloom's Taxonomy

• Maslow's Hierarchy of Needs

• Social Stratification

• Division of Labor

Which of the following states that as a consumer gets more satisfaction in the long-run, he experiences a decline in his satisfaction for goods and services?

• Law of Supply and Demand

• Law of Diminishing Marginal Utility

• Ceteris Paribus

• Maslow's Hierarchy of Needs

What do you call the measure of the welfare we gain from the consumption of goods and services, or a measure of the benefits that we derive from the exchange of goods?

• Consumer Behavior

• Consumer Goods

• Consumer Surplus

• None of the above

What do you call the measure involving the use and disposal of products as well as the study of how they are purchased?

• Consumer behavior

• Consumer goods

• Consumer surplus

• None of the above