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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
Economic wants.
Question # 2
MU curve
Question # 3
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 4
Utility and usefulness are
Question # 5
When MU is positive, TU
Question # 6
Goods which can satisfy human wants are.
Question # 7
Human wants are
Question # 8
Equilibrium of consumer is explained by
Question # 9
When MU=0, TU is
Question # 10
When marginal is negative, it must be true that
Question # 11
Only those goods are priced in the market which have:
Question # 12
A product which has value price in the market has.
Question # 13
The good which are used to produce more goods are.``
Question # 14
Rotten eggs are
Question # 15
Indifference curves are convex to the origin because
Question # 16
The utility of durable consumer goods.
Question # 17
Law of Equi marginal utlility is a low of
Question # 18
the term marginal in economics means
Question # 19
Law of substitution is another name for
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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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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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Z Zaina Ch 10 - May - 2024 02 Min 22 Sec 15/20 -
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A Ashraf Ali 28 - Jul - 2024 10 Min 18 Sec 15/20 -
S Saad Sadiq 03 - May - 2024 02 Min 06 Sec 14/20 -
A Abdullah Safdar 23 - Jun - 2026 02 Min 21 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 2 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 3 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 4 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 5 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 6 | Economic wants. |
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
|
| 7 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 8 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
| 9 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 10 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
Test Questions