Business Data Management Quiz 1: 16 July 2023 (May 2023 term)

Question 1

+2 marksOne correct option

Match the following:

i. Total utility	a. Satisfaction gained from consuming one additional unit of good or service
ii. Marginal utility	b. Aggregate satisfaction gained from consuming a specific quantity of good or service.
iii. Average utility	c. Satisfaction gained from per unit of good or service consumed.
----	d. Satisfaction gained from consuming one additional unit of good or service after the satisfaction levels match average utility threshold.

A
i-b, ii-d, iii-a
B
i-d, ii-c, iii-b
C
i-b, ii-a, iii-d
D
i-c, ii-a, iii-d
E
i-b, ii-a, iii-c
F
i-c, ii-d, iii-a

Question 2

+2 marksOne correct option

Theoretically, a customer will keep buying an item as long as ______ of the item is ______ the per unit price of the item.

A
total utility; lesser than
B
variable cost; greater than
C
marginal utility; greater than
D
variable cost; lesser than
E
marginal utility; lesser than

Question 3

+1 markOne correct option

Which of the following is the single best differentiator between luxury and normal goods?

A
Supply
B
Demand
C
Production costs
D
Capital expense
E
Price elasticity of demand

7 more questions in this paper

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More on the BDM Quiz 1 16 Jul 2023 paper

The IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 16 Jul 2023, in the May 2023 term: 10 questions for 16 marks in 120 minutes. The first 3 questions are below. Sign in with Google — it is free — to see the whole paper with its answers and explanations, in learning mode or as a timed mock test.

Feature	BDM Quiz 1 16 Jul 2023 at a glance
Term	May 2023 term
Subject	Business Data Management
Course code	BSMS2001
Questions	10
Marks	16
Duration	120 min
MCQ	10
Official paper	IIT M DIPLOMA AN2 EXAM QPD2 16 JULY 2023
Negative marking	No negative marking.
Updated	25 Sept 2026