11th class Principles of Economics chapter 2 online mcq test with answers for I.Com part 1 Principles of Economics chapter 2(Consumer's Demand Theory)

Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test

Sr. #	Questions	Answers Choice
1	The price of non-economic want is always:	Very high Very Low Negative Zero
2	Who said that utility cannot be measured	Adam smith Marshall Keynes Hicks
3	One of the following is non economic want:	Car Bike Fan Self respect
4	Consumer's equilibrium takes place at that point where:	MU is negative MU is positve TU is maximum MU is maximum
5	TU is maximum where MU of all goods is:	Minimum Maximum Negative Equal
6	Law of equi-marginal utility is also known as:	Total utility maximizing law Law of substitution Law of indifference All of them
7	Law of diminishing marginal utility provides basis for:	Law of demand Law of equi marginal utility Law of supply Both (a) and (b)
8	The decreasing part of TU curve shows:	MU is zero MU is negative MU is increasing MU is decreasing
9	First law of consumption is known as:	Law of supply Law of demand Law of diminishing marginal utility Law of equi marginal utility
10	Capital goods are those which can satisfy human wants:	Directly Indirectly Proportionate None of these
11	Total utility always:	Decreases 1st increases then decreases Maximum Negative
12	Marginal utility always:	Decreases Increases Zero Negative
13	When marginal utility is negative, total utility:	Decreases Increases Does not change Negative
14	When marginal utility is zero, than total utility is:	Minimum Positive Maximum Zero
15	When marginal utility is positive, total utility:	Decreases Increases Zero All of them

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