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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
Food, Shelter and clothing are:
Question # 2
A consumer's spending is restricted because of
Question # 3
Law of substitution is another name for
Question # 4
The goods used to produce income or wealth are.,
Question # 5
Human wants are
Question # 6
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 7
One of the following will not be the income of a person.
Question # 8
The utility of durable consumer goods.
Question # 9
General price level and real income of the people are correlated with each other
Question # 10
Law of Equi marginal utlility is a low of
Question # 11
A consumer in equilibrium when marginal utilities are
Question # 12
The price of an non-economic good is:
Question # 13
Goods which can satisfy human wants are.
Question # 14
The good which are used to produce more goods are.``
Question # 15
Power of a product which can satisfy human want is.
Question # 16
Equilibrium of consumer is explained by
Question # 17
.Which one is not an economic want.
Question # 18
In economics, one or more persons sharing common consumer budget is called
Question # 19
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 20
Economic wants.
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 -
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 -
L Laiba Sehar45 15 - Nov - 2024 02 Min 40 Sec 14/20 -
A Ahmed Palijo 11 - May - 2024 04 Min 54 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 2 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 3 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
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| 4 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 5 | 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
|
| 6 | The value of a product depends upon. |
A. The number of dollars
B. The numbers of dollars which can be given in exchange for it
C. The current exchange rate.
D. None of them
|
| 7 | 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
|
| 8 | 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
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| 9 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 10 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
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 ...