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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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

Shopkeepers are also producers because in goods, they produce.

Question # 3

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

Question # 4

Law of Equi marginal utlility is a low of

Question # 5

Only those goods are priced in the market which have:

Question # 6

Equilibrium of consumer is explained by

Question # 7

Utility is most closely related to the term

Question # 8

MU curve

Question # 9

The value of a product depends upon.

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

Goods which can satisfy human wants are.

Question # 12

The utility of durable consumer goods.

Question # 13

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

Question # 14

A product which has value price in the market has.

Question # 15

Law of substitution is another name for

Question # 16

Economic wants.

Question # 17

A consumer in equilibrium when marginal utilities are

Question # 18

One of the following will not be the income of a person.

Question # 19

In economics, one or more persons sharing common consumer budget is called

Question # 20

If a consumer moves upward along an indifference curve, his total utility

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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 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
2 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
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 The good which are used to produce more goods are.``
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
5 Food, Shelter and clothing are:
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
6 A consumer's spending is restricted because of
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
7 Shopkeepers are also producers because in goods, they produce.
A. Form utility
B. Time utility
C. Use utility
D. Place utility
8 Only those goods are priced in the market which have:
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
9 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
10 A product which has value price in the market has.
A. Utility
B. Scarcity
C. Transferability
D. All the three

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