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Economics Grade 11 Unit 1: THEORY OF CONSUMER BEHAVIOR AND DEMAND INTRODUCTION
national exam questions have come from this unit. It runs 33 pages; one careful study pass takes about 2.5 hours, and its difficulty is moderate among Economics units. Each section below lists the questions set from it, with the year, and opens the page that teaches it.
1.1 Review of the Cardinal Utility Approach · read p. 2
Not asked in a national paper yet.
1.2 The Ordinal Utility Theory and Preferences · read p. 4
Not asked in a national paper yet.
1.2.1 Indifference Curve, Set and Map · read p. 7
- 2011 E.C., Q27 – An indifference curve shows __________
1.2.2 Properties of Indifference Curves · read p. 10
Not asked in a national paper yet.
1.2.3 The Marginal Rate of Substitution (MRS) · read p. 14
Not asked in a national paper yet.
1.2.4 Marginal Utility and MRS · read p. 14
Not asked in a national paper yet.
1.2.5 Special Types of Indifference Curves · read p. 14
- 2012 E.C., Q22 – Indifference curves are convex to the origin because we assume that two consumption goods are
1.3 The Budget Line or the Price line · read p. 16
- 2018 E.C., Q45 – Which one of the following is correct about the optimum of the consumer under the cardinal utility theory?
- 2018 E.C., Q56 – Which one of the following statements is correct about the budget line?
- 2012 E.C., Q24 – In the ordinary theory of utility, the income consumption curve (ICC) shows the way in which
1.3.1 Slope of the Budget Line · read p. 19
- 2018 E.C., Q75 – Given the budget equation as: $2X+3Y=60$ where Price of commodity X ($P_x=2$), Price of commodity Y ($P_y=3$), and income of the consumer ($M=60$), then which one of the following is slope of the budget line?
1.3.2 Factors Affecting the Budget Line · read p. 19
Not asked in a national paper yet.
1.3.3 Effects of Changes in Income · read p. 19
Not asked in a national paper yet.
1.3.4 Effects of Changes in Price of the Commodities · read p. 23
- 2018 E.C., Q41 – Given two goods X and Y, and income of the consumer, what happens if the price of X changes, ceteris paribus?
- 2018 E.C., Q57 – Which one of the following factors causes upward shift of the budget line?
- 2012 E.C., Q23 – A decrease in income of consumer with no changes in the price of either good will cause, assuming both goods are normal
1.4 Optimum of the Consumer · read p. 25
Not asked in a national paper yet.
1.4.1 Effects of Changes in Income and Prices on Consumer’s Equilibrium · read p. 27
Not asked in a national paper yet.
1.4.2 Price Consumption Curve and Deriving the Demand Curve · read p. 28
Not asked in a national paper yet.