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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
Utility and usefulness are
Question # 2
Utility of a product depends upon
Question # 3
Law of substitution is another name for
Question # 4
A consumer in equilibrium when marginal utilities are
Question # 5
Equilibrium of consumer is explained by
Question # 6
The value of a product depends upon.
Question # 7
Economic wants.
Question # 8
The goods used to produce income or wealth are.,
Question # 9
A product which has value price in the market has.
Question # 10
The utility of durable consumer goods.
Question # 11
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 12
The good which are used to produce more goods are.``
Question # 13
Power of a product which can satisfy human want is.
Question # 14
The price of an non-economic good is:
Question # 15
A consumer's spending is restricted because of
Question # 16
MU curve
Question # 17
If a consumer moves upward along an indifference curve, his total utility
Question # 18
When MU=0, TU is
Question # 19
The quality of commodity that satisfies some human want or need is called
Question # 20
Rotten eggs 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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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 | Economic wants. |
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
|
| 2 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 3 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 4 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
|
| 5 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 6 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
| 7 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 8 | The number of goods and services which one unit of a product can command in exchange for it is its. |
A. Value of money
B. Value in exchange
C. Price
D. Utility
|
| 9 | General price level and real income of the people are correlated with each other |
A. Negatively
B. Positovely
C. Normally
D. Sub normally
|
| 10 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
Test Questions