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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
Utility is most closely related to the term
Question # 2
Diminishing marginal utility is the basis of
Question # 3
Food, Shelter and clothing are:
Question # 4
Equilibrium of consumer is explained by
Question # 5
Power of a product which can satisfy human want is.
Question # 6
A product which has value price in the market has.
Question # 7
The price of an non-economic good is:
Question # 8
MU curve
Question # 9
Utility and usefulness are
Question # 10
A consumer's spending is restricted because of
Question # 11
The value of a product depends upon.
Question # 12
The goods used to produce income or wealth are.,
Question # 13
If a consumer moves upward along an indifference curve, his total utility
Question # 14
Economic wants.
Question # 15
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 16
The utility of durable consumer goods.
Question # 17
When marginal is negative, it must be true that
Question # 18
Indifference curves are convex to the origin because
Question # 19
Goods which can satisfy human wants are.
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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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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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Q Qazi Mohid 09 - Jun - 2026 03 Min 51 Sec 16/20 -
Z Zaina Ch 10 - May - 2024 02 Min 22 Sec 15/20 -
T Taimoor Kayani 08 - May - 2024 03 Min 22 Sec 15/20 -
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 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 2 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 3 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 4 | When marginal is negative, it must be true that |
A. the average is negative
B. the average is decreasing
C. the total is negative
D. the total is decreasing
|
| 5 | General price level and real income of the people are correlated with each other |
A. Negatively
B. Positovely
C. Normally
D. Sub normally
|
| 6 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
|
| 7 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 8 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 9 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 10 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
Test Questions