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

MU curve

Question # 2

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

Question # 3

Utility of a product depends upon

Question # 4

Power of a product which can satisfy human want is.

Question # 5

When marginal is negative, it must be true that

Question # 6

When MU=0, TU is

Question # 7

A consumer in equilibrium when marginal utilities 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

The utility of durable consumer goods.

Question # 10

Economic wants.

Question # 11

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

Question # 12

.Which one is not an economic want.

Question # 13

Shopkeepers are also producers because in goods, they produce.

Question # 14

Only those goods are priced in the market which have:

Question # 15

Utility is most closely related to the term

Question # 16

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

Question # 17

Law of Equi marginal utlility is a low of

Question # 18

The quality of commodity that satisfies some human want or need is called

Question # 19

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

Question # 20

Utility and usefulness are

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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 Food, Shelter and clothing are:
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
2 One of the following will not be the income of a person.
A. Wages
B. Profit
C. Sccholarship
D. Salary
3 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
4 A consumer's spending is restricted because of
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
5 Only those goods are priced in the market which have:
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
6 General price level and real income of the people are correlated with each other
A. Negatively
B. Positovely
C. Normally
D. Sub normally
7 Shopkeepers are also producers because in goods, they produce.
A. Form utility
B. Time utility
C. Use utility
D. Place utility
8 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
9 When MU is positive, TU
A. increases
B. decreases
C. remains constant
D. is maximum
10 Law of Equi marginal utlility is a low of
A. production of wealth
B. consumption of wealth
C. distribution of wealth
D. exchange of wealth

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