First Year Economics Chapter 2 Online MCQ Test for 1st Year Economics Chapter 2 (Consumer Behaviour)

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

ICS Part 1 Economics Chapter 2 Test

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ICS Part 1 Economics Chapter Wise Test

MCQ's Test For Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test"

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  • Total Questions20

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

.Which one is not an economic want.

Question # 2

The price of an non-economic good is:

Question # 3

In economics, one or more persons sharing common consumer budget is called

Question # 4

The good which are used to produce more goods are.``

Question # 5

Utility of a product depends upon

Question # 6

Utility is most closely related to the term

Question # 7

Rotten eggs are

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

Goods which can satisfy human wants are.

Question # 10

Equilibrium of consumer is explained by

Question # 11

When MU=0, TU is

Question # 12

The number of goods and services which one unit of a product can command in exchange for it is its.

Question # 13

Utility and usefulness are

Question # 14

MU curve

Question # 15

When MU is positive, TU

Question # 16

A consumer's spending is restricted because of

Question # 17

General price level and real income of the people are correlated with each other

Question # 18

A consumer in equilibrium when marginal utilities are

Question # 19

Economic wants.

Question # 20

The utility of durable consumer goods.

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ICS Part 1 Economics Chapter 2 MCQs Test

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ICS Part 1 Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 A product which has value price in the market has.
A. Utility
B. Scarcity
C. Transferability
D. All the three
2 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
3 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
4 Goods which can satisfy human wants are.
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
5 Utility and usefulness are
A. equal
B. different
C. opposite
D. unrelated
6 A consumer in equilibrium when marginal utilities are
A. minimum
B. highest
C. equal
D. increasing
7 Equilibrium of consumer is explained by
A. negative utility
B. positive utility
C. marginal utility
D. profit
8 Shopkeepers are also producers because in goods, they produce.
A. Form utility
B. Time utility
C. Use utility
D. Place utility
9 The good which are used to produce more goods are.``
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
10 A consumer's spending is restricted because of
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants

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