Professional Courses
Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.
Categories
Interactive Games
Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.
Typing
Memory
Math
English Adventures
Knowledge
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define utility in economic terms.
💡 Hint: Think about what you feel when you enjoy your favorite food.
Question 2
Easy
What does marginal utility represent?
💡 Hint: Consider how much happy you feel after eating that extra slice of cake.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the term used to describe the satisfaction derived from consuming goods?
- Value
- Utility
- Cost
💡 Hint: It starts with 'U' and is all about satisfaction.
Question 2
True or False: Marginal utility always increases with additional consumption.
- True
- False
💡 Hint: Think about enjoying your favorite treat - less joy as you eat more.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A consumer receives a utility score of 100 from 10 apples. If they eat one more apple and the utility increases to 105, what is the marginal utility of that additional apple?
💡 Hint: Find the difference in utility produced by the consumption of the additional apple.
Question 2
Given the following quantities and total utility of bananas: 1 banana gives 10 utils, 2 bananas give 18 utils, and 3 bananas give 24 utils, calculate the marginal utility for each additional banana consumed.
💡 Hint: Use the change in total utility to find marginal utility values.
Challenge and get performance evaluation