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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
The utility of durable consumer goods.
Question # 2
One of the following will not be the income of a person.
Question # 3
The good which are used to produce more goods are.``
Question # 4
General price level and real income of the people are correlated with each other
Question # 5
Equilibrium of consumer is explained by
Question # 6
the term marginal in economics means
Question # 7
Utility of a product depends upon
Question # 8
The goods used to produce income or wealth are.,
Question # 9
Law of Equi marginal utlility is a low of
Question # 10
Rotten eggs are
Question # 11
When MU is positive, TU
Question # 12
When marginal is negative, it must be true that
Question # 13
The value of a product depends upon.
Question # 14
Diminishing marginal utility is the basis of
Question # 15
.Which one is not an economic want.
Question # 16
Utility is most closely related to the term
Question # 17
Human wants are
Question # 18
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 19
If a consumer moves upward along an indifference curve, his total utility
Question # 20
Law of substitution is another name for
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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B Bano Begum 09 - May - 2024 03 Min 34 Sec 20/20 -
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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 | Law of substitution is another name for |
A. law of diminishing MU
B. law of equi-MU
C. law of demand
D. law of satisfaction
|
| 2 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 3 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
|
| 4 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 5 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 6 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 7 | 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
|
| 8 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
| 9 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
|
| 10 | 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
|
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 ...