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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
Law of Equi marginal utlility is a low of
Question # 2
One of the following will not be the income of a person.
Question # 3
Law of substitution is another name for
Question # 4
The goods used to produce income or wealth are.,
Question # 5
Power of a product which can satisfy human want is.
Question # 6
The price of an non-economic good is:
Question # 7
Only those goods are priced in the market which have:
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
General price level and real income of the people are correlated with each other
Question # 10
A product which has value price in the market has.
Question # 11
The value of a product depends upon.
Question # 12
Shopkeepers are also producers because in goods, they produce.
Question # 13
MU curve
Question # 14
Diminishing marginal utility is the basis of
Question # 15
When marginal is negative, it must be true that
Question # 16
The quality of commodity that satisfies some human want or need is called
Question # 17
the term marginal in economics means
Question # 18
Economic wants.
Question # 19
A consumer in equilibrium when marginal utilities are
Question # 20
.Which one is not an economic want.
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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L Laiba Muqaddas 25 - Jul - 2024 00 Min 25 Sec 20/20 -
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 -
N Noorulain Waseem 22 - Apr - 2024 01 Min 25 Sec 19/20 -
Z zainab nouman 16 - Apr - 2024 02 Min 40 Sec 19/20 -
M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
A Ali Jutt 31 - May - 2024 05 Min 27 Sec 17/20 -
M Mohammad Akhlaq 17 - Oct - 2024 03 Min 42 Sec 16/20 -
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 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
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| 2 | 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
|
| 3 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
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| 4 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 5 | 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
|
| 6 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 7 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 8 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
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| 9 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
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| 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