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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
When marginal is negative, it must be true that
Question # 2
The utility of durable consumer goods.
Question # 3
When MU is positive, TU
Question # 4
The price of an non-economic good is:
Question # 5
A consumer's spending is restricted because of
Question # 6
Equilibrium of consumer is explained by
Question # 7
Indifference curves are convex to the origin because
Question # 8
Utility of a product depends upon
Question # 9
Law of substitution is another name for
Question # 10
Law of Equi marginal utlility is a low of
Question # 11
Human wants are
Question # 12
Shopkeepers are also producers because in goods, they produce.
Question # 13
Only those goods are priced in the market which have:
Question # 14
Utility and usefulness are
Question # 15
If a consumer moves upward along an indifference curve, his total utility
Question # 16
In economics, one or more persons sharing common consumer budget is called
Question # 17
MU curve
Question # 18
Utility is most closely related to the term
Question # 19
the term marginal in economics means
Question # 20
The goods used to produce income or wealth are.,
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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Z Zafar Ali 22 - May - 2024 02 Min 02 Sec 20/20 -
B Bano Begum 09 - May - 2024 03 Min 34 Sec 20/20 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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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 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
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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 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
|
| 4 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
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| 5 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 6 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 7 | General price level and real income of the people are correlated with each other |
A. Negatively
B. Positovely
C. Normally
D. Sub normally
|
| 8 | Economic wants. |
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
|
| 9 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
| 10 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
Test Questions
Share your comments & questions here
niha
14 Dec 2016some of the MCQS are written in urdu which are difficult to understand,,please change them all in English ..i will be very thankful ...