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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
Law of substitution is another name for
Question # 2
Utility of a product depends upon
Question # 3
Utility is most closely related to the term
Question # 4
Food, Shelter and clothing are:
Question # 5
Utility and usefulness are
Question # 6
Goods which can satisfy human wants are.
Question # 7
A consumer in equilibrium when marginal utilities are
Question # 8
Diminishing marginal utility is the basis of
Question # 9
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 10
Rotten eggs are
Question # 11
The value of a product depends upon.
Question # 12
When marginal is negative, it must be true that
Question # 13
MU curve
Question # 14
The good which are used to produce more goods are.``
Question # 15
.Which one is not an economic want.
Question # 16
One of the following will not be the income of a person.
Question # 17
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 18
Economic wants.
Question # 19
Law of Equi marginal utlility is a low of
Question # 20
A product which has value price in the market has.
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 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
|
| 2 | 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
|
| 3 | 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
|
| 4 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 5 | Economic wants. |
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
|
| 6 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
| 7 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 8 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 9 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 10 | .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
|
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 ...