2. Basic Economic Concepts
Marginal Analysis And Consumer Choice — Quiz
Test your understanding of marginal analysis and consumer choice with 5 practice questions.
Practice Questions
Question 1
What does marginal analysis focus on when a consumer is deciding whether to buy one more unit of a good or service?
Question 2
A student buys a second slice of pizza because the extra satisfaction from that slice is greater than the extra money paid for it. What economic idea is being used?
Question 3
What happens to a rational consumer’s decision when the marginal cost of buying one more unit is greater than the marginal benefit?
Question 4
Which term describes the additional satisfaction a consumer gets from consuming one more unit of a good?
Question 5
A person chooses to study one more hour because the expected increase in the test score is greater than the value of the time spent working. What does this decision illustrate?