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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
The goods used to produce income or wealth are.,
Question # 2
Utility and usefulness are
Question # 3
In economics, one or more persons sharing common consumer budget is called
Question # 4
The price of an non-economic good is:
Question # 5
When MU=0, TU is
Question # 6
.Which one is not an economic want.
Question # 7
Power of a product which can satisfy human want is.
Question # 8
MU curve
Question # 9
Law of substitution is another name for
Question # 10
A consumer in equilibrium when marginal utilities are
Question # 11
The good which are used to produce more goods are.``
Question # 12
General price level and real income of the people are correlated with each other
Question # 13
If a consumer moves upward along an indifference curve, his total utility
Question # 14
The utility of durable consumer goods.
Question # 15
The value of a product depends upon.
Question # 16
Human wants are
Question # 17
Food, Shelter and clothing are:
Question # 18
Only those goods are priced in the market which have:
Question # 19
When MU is positive, TU
Question # 20
The quality of commodity that satisfies some human want or need is called
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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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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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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 | 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
|
| 2 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 3 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
|
| 4 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 5 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 6 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 7 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 8 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 9 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
| 10 | 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
|
Test Questions