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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
Economic wants.
Question # 2
Law of substitution is another name for
Question # 3
The price of an non-economic good is:
Question # 4
General price level and real income of the people are correlated with each other
Question # 5
Utility is most closely related to the term
Question # 6
When MU is positive, TU
Question # 7
Utility and usefulness are
Question # 8
Rotten eggs are
Question # 9
.Which one is not an economic want.
Question # 10
The value of a product depends upon.
Question # 11
Goods which can satisfy human wants are.
Question # 12
When marginal is negative, it must be true that
Question # 13
the term marginal in economics means
Question # 14
Shopkeepers are also producers because in goods, they produce.
Question # 15
A consumer's spending is restricted because of
Question # 16
A consumer in equilibrium when marginal utilities are
Question # 17
Food, Shelter and clothing are:
Question # 18
Utility of a product depends upon
Question # 19
Power of a product which can satisfy human want is.
Question # 20
When MU=0, TU is
ICS Part 1 Economics Chapter 2 MCQs Test
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ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
|
| 2 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
|
| 3 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
|
| 4 | Economic wants. |
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
|
| 5 | 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
|
| 6 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
| 7 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 8 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 9 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 10 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
Test Questions
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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 ...