First Year Economics Chapter 2 Online MCQ Test for 1st Year Economics Chapter 2 (Consumer Behaviour)

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

ICS Part 1 Economics Chapter 2 Test

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ICS Part 1 Economics Chapter Wise Test

MCQ's Test For Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test"

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  • Total Questions20

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

A consumer in equilibrium when marginal utilities are

Question # 2

When marginal is negative, it must be true that

Question # 3

Equilibrium of consumer is explained by

Question # 4

Power of a product which can satisfy human want is.

Question # 5

The quality of commodity that satisfies some human want or need is called

Question # 6

Utility is most closely related to the term

Question # 7

A consumer's spending is restricted because of

Question # 8

A product which has value price in the market has.

Question # 9

When MU=0, TU is

Question # 10

If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be

Question # 11

The goods used to produce income or wealth are.,

Question # 12

Utility and usefulness are

Question # 13

The good which are used to produce more goods are.``

Question # 14

The price of an non-economic good is:

Question # 15

Rotten eggs are

Question # 16

When MU is positive, TU

Question # 17

General price level and real income of the people are correlated with each other

Question # 18

Only those goods are priced in the market which have:

Question # 19

MU curve

Question # 20

The value of a product depends upon.

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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 Power of a product which can satisfy human want is.
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
2 A consumer in equilibrium when marginal utilities are
A. minimum
B. highest
C. equal
D. increasing
3 .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
4 Utility and usefulness are
A. equal
B. different
C. opposite
D. unrelated
5 Goods which can satisfy human wants are.
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
6 Shopkeepers are also producers because in goods, they produce.
A. Form utility
B. Time utility
C. Use utility
D. Place utility
7 The goods used to produce income or wealth are.,
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
8 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
9 A product which has value price in the market has.
A. Utility
B. Scarcity
C. Transferability
D. All the three
10 The utility of durable consumer goods.
A. Diminishes with the passage of time
B. Perishes, if not used
C. Can be obtained constantly
D. None of the three

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