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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
A product which has value price in the market has.
Question # 2
Utility is most closely related to the term
Question # 3
Economic wants.
Question # 4
When MU is positive, TU
Question # 5
Shopkeepers are also producers because in goods, they produce.
Question # 6
A consumer's spending is restricted because of
Question # 7
MU curve
Question # 8
Law of substitution is another name for
Question # 9
The utility of durable consumer goods.
Question # 10
Diminishing marginal utility is the basis of
Question # 11
Goods which can satisfy human wants are.
Question # 12
When marginal is negative, it must be true that
Question # 13
The value of a product depends upon.
Question # 14
Equilibrium of consumer is explained by
Question # 15
When MU=0, TU is
Question # 16
Law of Equi marginal utlility is a low of
Question # 17
Utility of a product depends upon
Question # 18
Utility and usefulness are
Question # 19
Rotten eggs are
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 Sehar45 15 - Nov - 2024 02 Min 40 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 3 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
| 4 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
| 5 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 6 | 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
|
| 7 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 8 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
|
| 9 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 10 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
|
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 ...