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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
Goods which can satisfy human wants are.
Question # 2
A consumer's spending is restricted because of
Question # 3
Food, Shelter and clothing are:
Question # 4
Utility and usefulness are
Question # 5
The quality of commodity that satisfies some human want or need is called
Question # 6
In economics, one or more persons sharing common consumer budget is called
Question # 7
The goods used to produce income or wealth are.,
Question # 8
Only those goods are priced in the market which have:
Question # 9
The utility of durable consumer goods.
Question # 10
One of the following will not be the income of a person.
Question # 11
A consumer in equilibrium when marginal utilities are
Question # 12
Shopkeepers are also producers because in goods, they produce.
Question # 13
A product which has value price in the market has.
Question # 14
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 15
Utility of a product depends upon
Question # 16
General price level and real income of the people are correlated with each other
Question # 17
Law of Equi marginal utlility is a low of
Question # 18
The price of an non-economic good is:
Question # 19
When MU is positive, TU
Question # 20
Human wants are
ICS Part 1 Economics Chapter 2 MCQs Test
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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 | .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
|
| 2 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
|
| 3 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 4 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 5 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 6 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 7 | General price level and real income of the people are correlated with each other |
A. Negatively
B. Positovely
C. Normally
D. Sub normally
|
| 8 | 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
|
| 9 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
|
| 10 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
Test Questions