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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
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 2
The value of a product depends upon.
Question # 3
When MU is positive, TU
Question # 4
In economics, one or more persons sharing common consumer budget is called
Question # 5
The goods used to produce income or wealth are.,
Question # 6
Power of a product which can satisfy human want is.
Question # 7
Goods which can satisfy human wants are.
Question # 8
the term marginal in economics means
Question # 9
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 10
The price of an non-economic good is:
Question # 11
Shopkeepers are also producers because in goods, they produce.
Question # 12
If a consumer moves upward along an indifference curve, his total utility
Question # 13
When MU=0, TU is
Question # 14
General price level and real income of the people are correlated with each other
Question # 15
The utility of durable consumer goods.
Question # 16
A consumer's spending is restricted because of
Question # 17
Rotten eggs are
Question # 18
The quality of commodity that satisfies some human want or need is called
Question # 19
Law of substitution is another name for
Question # 20
Indifference curves are convex to the origin because
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 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 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
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| 2 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 3 | Law of Equi marginal utlility is a low of |
A. production of wealth
B. consumption of wealth
C. distribution of wealth
D. exchange of wealth
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| 4 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 5 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 6 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 7 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 8 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 9 | 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
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| 10 | .Which one is not an economic want. |
A. Want for food
B. Want to be a doctor
C. Want to fall in love
D. Non 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 ...