First Year Economics Chapter 2 Online MCQ Test for 1st Year Economics Chapter 2 (Consumer Behaviour)

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

ICS Part 1 Economics Chapter 2 Test

Start Chapter 2 Test

ICS Part 1 Economics Chapter Wise Test

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"

  • Total Questions20

  • Time Allowed30

Start Test Download PDF

Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

When marginal is negative, it must be true that

Question # 2

When MU is positive, TU

Question # 3

Economic wants.

Question # 4

The quality of commodity that satisfies some human want or need is called

Question # 5

The number of goods and services which one unit of a product can command in exchange for it is its.

Question # 6

Indifference curves are convex to the origin because

Question # 7

Power of a product which can satisfy human want is.

Question # 8

Human wants are

Question # 9

Equilibrium of consumer is explained by

Question # 10

Goods which can satisfy human wants are.

Question # 11

Only those goods are priced in the market which have:

Question # 12

The goods used to produce income or wealth are.,

Question # 13

The good which are used to produce more goods are.``

Question # 14

Law of substitution is another name for

Question # 15

One of the following will not be the income of a person.

Question # 16

When MU=0, TU is

Question # 17

In economics, one or more persons sharing common consumer budget is called

Question # 18

The utility of durable consumer goods.

Question # 19

If a consumer moves upward along an indifference curve, his total utility

Question # 20

The value of a product depends upon.

Submit

Prepare Complete Set Wise Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test" MCQs Online With Answers


Topic Test

00:00
Submit
ic-science-white
Economics
2nd Chapter

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

  • L
    Laiba Muqaddas 25 - Jul - 2024 00 Min 25 Sec 20/20
  • Z
    Zafar Ali 22 - May - 2024 02 Min 02 Sec 20/20
  • B
    Bano Begum 09 - May - 2024 03 Min 34 Sec 20/20
  • H
    hafsa Mumtaz 10 - May - 2024 05 Min 04 Sec 20/20
  • N
    Noorulain Waseem 22 - Apr - 2024 01 Min 25 Sec 19/20
  • Z
    zainab nouman 16 - Apr - 2024 02 Min 40 Sec 19/20
  • M
    M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20
  • A
    Ali Jutt 31 - May - 2024 05 Min 27 Sec 17/20
  • M
    Mohammad Akhlaq 17 - Oct - 2024 03 Min 42 Sec 16/20
  • Q
    Qazi Mohid 09 - Jun - 2026 03 Min 51 Sec 16/20
  • Z
    Zaina Ch 10 - May - 2024 02 Min 22 Sec 15/20
  • T
    Taimoor Kayani 08 - May - 2024 03 Min 22 Sec 15/20
  • A
    Ashraf Ali 28 - Jul - 2024 10 Min 18 Sec 15/20
  • S
    Saad Sadiq 03 - May - 2024 02 Min 06 Sec 14/20
  • A
    Abdullah Safdar 23 - Jun - 2026 02 Min 21 Sec 14/20

ICS Part 1 Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 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
2 One of the following will not be the income of a person.
A. Wages
B. Profit
C. Sccholarship
D. Salary
3 The value of a product depends upon.
A. The number of dollars
B. The numbers of dollars which can be given in exchange for it
C. The current exchange rate.
D. None of them
4 Food, Shelter and clothing are:
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
5 Human wants are
A. one thousand
B. few
C. innumerable
D. countable
6 If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
A. equal
B. unequal
C. increasing
D. decreasing
7 A consumer in equilibrium when marginal utilities are
A. minimum
B. highest
C. equal
D. increasing
8 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
9 The goods used to produce income or wealth are.,
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
10 Only those goods are priced in the market which have:
A. Utility
B. Sacrcity
C. Transferability
D. All of the above

Test Questions