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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
Human wants are
Question # 2
The goods used to produce income or wealth are.,
Question # 3
Utility of a product depends upon
Question # 4
A consumer's spending is restricted because of
Question # 5
When marginal is negative, it must be true that
Question # 6
A product which has value price in the market has.
Question # 7
Shopkeepers are also producers because in goods, they produce.
Question # 8
Utility is most closely related to the term
Question # 9
When MU is positive, TU
Question # 10
Utility and usefulness are
Question # 11
The utility of durable consumer goods.
Question # 12
Only those goods are priced in the market which have:
Question # 13
.Which one is not an economic want.
Question # 14
The quality of commodity that satisfies some human want or need is called
Question # 15
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 16
Food, Shelter and clothing are:
Question # 17
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 18
The price of an non-economic good is:
Question # 19
MU curve
Question # 20
When MU=0, TU is
ICS Part 1 Economics Chapter 2 MCQs Test
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L Laiba Sehar45 15 - Nov - 2024 02 Min 40 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 2 | 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
|
| 3 | When marginal is negative, it must be true that |
A. the average is negative
B. the average is decreasing
C. the total is negative
D. the total is decreasing
|
| 4 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
| 5 | Economic wants. |
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
|
| 6 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 7 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 8 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 9 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 10 | 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
|
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 ...