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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
Shopkeepers are also producers because in goods, they produce.
Question # 2
When MU is positive, TU
Question # 3
Utility is most closely related to the term
Question # 4
General price level and real income of the people are correlated with each other
Question # 5
When marginal is negative, it must be true that
Question # 6
Power of a product which can satisfy human want is.
Question # 7
The value of a product depends upon.
Question # 8
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 9
A consumer in equilibrium when marginal utilities are
Question # 10
Only those goods are priced in the market which have:
Question # 11
the term marginal in economics means
Question # 12
.Which one is not an economic want.
Question # 13
Equilibrium of consumer is explained by
Question # 14
The good which are used to produce more goods are.``
Question # 15
The utility of durable consumer goods.
Question # 16
Goods which can satisfy human wants are.
Question # 17
Law of substitution is another name for
Question # 18
The quality of commodity that satisfies some human want or need is called
Question # 19
Indifference curves are convex to the origin because
Question # 20
Food, Shelter and clothing are:
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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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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 price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
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| 2 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
|
| 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
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| 4 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 5 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
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| 6 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 7 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
|
| 8 | General price level and real income of the people are correlated with each other |
A. Negatively
B. Positovely
C. Normally
D. Sub normally
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| 9 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
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| 10 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
Test Questions