Practice - Consumer Behavior
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
Define 'Marginal Utility'.
💡 Hint: Think about what you feel when you consume extra servings of food.
What happens to demand when prices rise?
💡 Hint: Consider how much less you buy when prices go up.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is Marginal Utility?
💡 Hint: Consider how much you enjoy extra helpings.
True or False: The law of diminishing marginal utility states that as you consume more, your total satisfaction always increases.
💡 Hint: Think about how eating more affects your enjoyment.
Get performance evaluation
Challenge Problems
Push your limits with advanced challenges
Imagine a scenario where a new smartphone is released with advanced features at a premium price. How might consumer preferences change over time as the initial excitement wears off?
💡 Hint: Think about your most recent tech purchases and how trends shift.
Consider the impact of an economic downturn on consumer behavior. How may individual and market-level demand shift?
💡 Hint: Reflect on past economic events and their impact on your purchasing choices.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.