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

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Economics Ics Part 1 English Medium Chapter 2 Online Test

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Question # 1

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

Question # 2

When MU is positive, TU

Question # 3

Law of Equi marginal utlility is a low of

Question # 4

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

Question # 5

Equilibrium of consumer is explained by

Question # 6

Utility and usefulness are

Question # 7

Power of a product which can satisfy human want is.

Question # 8

The price of an non-economic good is:

Question # 9

Food, Shelter and clothing are:

Question # 10

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

Question # 11

Goods which can satisfy human wants are.

Question # 12

The value of a product depends upon.

Question # 13

the term marginal in economics means

Question # 14

A product which has value price in the market has.

Question # 15

Law of substitution is another name for

Question # 16

The goods used to produce income or wealth are.,

Question # 17

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

Question # 18

Human wants are

Question # 19

A consumer's spending is restricted because of

Question # 20

Diminishing marginal utility is the basis of

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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 In economics, one or more persons sharing common consumer budget is called
A. social group
B. consumer union
C. organisation
D. household
2 Economic wants.
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
3 A consumer in equilibrium when marginal utilities are
A. minimum
B. highest
C. equal
D. increasing
4 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
5 Only those goods are priced in the market which have:
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
6 Human wants are
A. one thousand
B. few
C. innumerable
D. countable
7 Equilibrium of consumer is explained by
A. negative utility
B. positive utility
C. marginal utility
D. profit
8 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
9 .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
10 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

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