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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
One of the following will not be the income of a person.
Question # 2
Food, Shelter and clothing are:
Question # 3
Rotten eggs are
Question # 4
When MU=0, TU is
Question # 5
Indifference curves are convex to the origin because
Question # 6
Utility is most closely related to the term
Question # 7
A consumer's spending is restricted because of
Question # 8
Diminishing marginal utility is the basis of
Question # 9
A product which has value price in the market has.
Question # 10
The utility of durable consumer goods.
Question # 11
MU curve
Question # 12
Utility and usefulness are
Question # 13
Only those goods are priced in the market which have:
Question # 14
Equilibrium of consumer is explained by
Question # 15
General price level and real income of the people are correlated with each other
Question # 16
The goods used to produce income or wealth are.,
Question # 17
Goods which can satisfy human wants are.
Question # 18
Utility of a product depends upon
Question # 19
The value of a product depends upon.
Question # 20
A consumer in equilibrium when marginal utilities 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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ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 2 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 3 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
|
| 4 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 5 | 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
|
| 6 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
| 7 | 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
|
| 8 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 9 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 10 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
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 ...