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

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

Human wants are

Question # 2

Power of a product which can satisfy human want is.

Question # 3

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

Question # 4

Economic wants.

Question # 5

When marginal is negative, it must be true that

Question # 6

Utility and usefulness are

Question # 7

Only those goods are priced in the market which have:

Question # 8

Rotten eggs are

Question # 9

Utility is most closely related to the term

Question # 10

.Which one is not an economic want.

Question # 11

When MU is positive, TU

Question # 12

The value of a product depends upon.

Question # 13

Utility of a product depends upon

Question # 14

MU curve

Question # 15

The utility of durable consumer goods.

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

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

Question # 19

Food, Shelter and clothing are:

Question # 20

Diminishing marginal utility is the basis of

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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 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
2 One of the following will not be the income of a person.
A. Wages
B. Profit
C. Sccholarship
D. Salary
3 .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
4 Food, Shelter and clothing are:
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
5 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
6 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
7 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
8 Utility of a product depends upon
A. Knowledge
B. Ownership
C. Form
D. All of them
9 Power of a product which can satisfy human want is.
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
10 Goods which can satisfy human wants are.
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods

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