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This online test contains MCQs about following topics:
Utility ,Relationshipsof marginal and Total utility ,Scarcity ,Value and Price ,Income ,Goods and Sevice ,Wealth ,Law of Diminshing Utility ,Law of Equi Marginal Utility ,Formula for Consumers Equilibrium
MCQ's Test For Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test"
Try The MCQ's Test For Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 2 Online Test
00:00
Question # 1
If a consumer moves upward along an indifference curve, his total utility
Question # 2
Utility of a product depends upon
Question # 3
.Which one is not an economic want.
Question # 4
Indifference curves are convex to the origin because
Question # 5
General price level and real income of the people are correlated with each other
Question # 6
Law of Equi marginal utlility is a low of
Question # 7
The quality of commodity that satisfies some human want or need is called
Question # 8
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 9
The utility of durable consumer goods.
Question # 10
Food, Shelter and clothing are:
Question # 11
Rotten eggs are
Question # 12
Human wants are
Question # 13
The good which are used to produce more goods are.``
Question # 14
One of the following will not be the income of a person.
Question # 15
Goods which can satisfy human wants are.
Question # 16
Economic wants.
Question # 17
Only those goods are priced in the market which have:
Question # 18
the term marginal in economics means
Question # 19
Diminishing marginal utility is the basis of
Question # 20
Equilibrium of consumer is explained by
ICS Part 1 Economics Chapter 2 MCQs Test
Top Scorers Of Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test" MCQ`s Test
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L Laiba Sehar45 15 - Nov - 2024 02 Min 40 Sec 14/20 -
A Ahmed Palijo 11 - May - 2024 04 Min 54 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
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| 2 | Indifference curves are convex to the origin because |
A. two goods are perfect substitutes
B. two goods are imperfect substitutes
C. two goods are perfect complementary goods
D. goods area jointly demanded
|
| 3 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 4 | Law of substitution is another name for |
A. law of diminishing MU
B. law of equi-MU
C. law of demand
D. law of satisfaction
|
| 5 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 6 | The number of goods and services which one unit of a product can command in exchange for it is its. |
A. Value of money
B. Value in exchange
C. Price
D. Utility
|
| 7 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 8 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
| 9 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 10 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
Test Questions