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

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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

When MU=0, TU is

Question # 2

Human wants are

Question # 3

The goods used to produce income or wealth are.,

Question # 4

A product which has value price in the market has.

Question # 5

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

Question # 6

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

Question # 7

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

Question # 8

When marginal is negative, it must be true that

Question # 9

When MU is positive, TU

Question # 10

Utility is most closely related to the term

Question # 11

MU curve

Question # 12

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

Question # 13

A consumer in equilibrium when marginal utilities are

Question # 14

Utility and usefulness are

Question # 15

Only those goods are priced in the market which have:

Question # 16

Indifference curves are convex to the origin because

Question # 17

Law of Equi marginal utlility is a low of

Question # 18

Law of substitution is another name for

Question # 19

Equilibrium of consumer is explained by

Question # 20

.Which one is not an economic want.

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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 If a consumer moves upward along an indifference curve, his total utility
A. falls to zero
B. does not change
C. increases
D. decreases
2 When MU is positive, TU
A. increases
B. decreases
C. remains constant
D. is maximum
3 The quality of commodity that satisfies some human want or need is called
A. service
B. demand
C. utility
D. efficiency
4 Power of a product which can satisfy human want is.
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
5 The goods used to produce income or wealth are.,
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
6 Utility of a product depends upon
A. Knowledge
B. Ownership
C. Form
D. All of them
7 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
8 Diminishing marginal utility is the basis of
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
9 .Which one is not an economic want.
A. Want for food
B. Want to be a doctor
C. Want to fall in love
D. Non of the above
10 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

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