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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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

Power of a product which can satisfy human want is.

Question # 2

A consumer in equilibrium when marginal utilities are

Question # 3

Law of substitution is another name for

Question # 4

When marginal is negative, it must be true that

Question # 5

Utility of a product depends upon

Question # 6

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

Question # 7

If a consumer moves upward along an indifference curve, his total utility

Question # 8

Human wants are

Question # 9

When MU=0, TU is

Question # 10

Only those goods are priced in the market which have:

Question # 11

Goods which can satisfy human wants are.

Question # 12

When MU is positive, TU

Question # 13

One of the following will not be the income of a person.

Question # 14

The utility of durable consumer goods.

Question # 15

Economic wants.

Question # 16

The value of a product depends upon.

Question # 17

If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be

Question # 18

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

Question # 19

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

Question # 20

Diminishing marginal utility is the basis of

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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 Diminishing marginal utility is the basis of
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
2 Utility and usefulness are
A. equal
B. different
C. opposite
D. unrelated
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 Shopkeepers are also producers because in goods, they produce.
A. Form utility
B. Time utility
C. Use utility
D. Place utility
5 MU curve
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
6 The goods used to produce income or wealth are.,
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
7 A consumer in equilibrium when marginal utilities are
A. minimum
B. highest
C. equal
D. increasing
8 The number of goods and services which one unit of a product can command in exchange for it is its.
A. Value of money
B. Value in exchange
C. Price
D. Utility
9 Goods which can satisfy human wants are.
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
10 If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
A. equal
B. unequal
C. increasing
D. decreasing

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