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

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

Question # 2

Food, Shelter and clothing are:

Question # 3

Goods which can satisfy human wants are.

Question # 4

Power of a product which can satisfy human want is.

Question # 5

A consumer in equilibrium when marginal utilities are

Question # 6

Shopkeepers are also producers because in goods, they produce.

Question # 7

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

Question # 8

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

Question # 9

Utility of a product depends upon

Question # 10

Law of Equi marginal utlility is a low of

Question # 11

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

Question # 12

The goods used to produce income or wealth are.,

Question # 13

When marginal is negative, it must be true that

Question # 14

Only those goods are priced in the market which have:

Question # 15

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

Question # 16

MU curve

Question # 17

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

Question # 18

Utility is most closely related to the term

Question # 19

The utility of durable consumer goods.

Question # 20

Equilibrium of consumer is explained by

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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 Equilibrium of consumer is explained by
A. negative utility
B. positive utility
C. marginal utility
D. profit
3 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
4 One of the following will not be the income of a person.
A. Wages
B. Profit
C. Sccholarship
D. Salary
5 When MU=0, TU is
A. minimum
B. maximum
C. increasing
D. decreasing
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 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
8 A product which has value price in the market has.
A. Utility
B. Scarcity
C. Transferability
D. All the three
9 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
10 The price of an non-economic good is:
A. Very low
B. Very high
C. Zero
D. Negative

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