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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
The utility of durable consumer goods.
Question # 2
MU curve
Question # 3
Only those goods are priced in the market which have:
Question # 4
Indifference curves are convex to the origin because
Question # 5
Utility and usefulness are
Question # 6
Law of Equi marginal utlility is a low of
Question # 7
Goods which can satisfy human wants are.
Question # 8
The quality of commodity that satisfies some human want or need is called
Question # 9
In economics, one or more persons sharing common consumer budget is called
Question # 10
Power of a product which can satisfy human want is.
Question # 11
A consumer in equilibrium when marginal utilities are
Question # 12
Food, Shelter and clothing are:
Question # 13
Equilibrium of consumer is explained by
Question # 14
Law of substitution is another name for
Question # 15
Diminishing marginal utility is the basis of
Question # 16
The goods used to produce income or wealth are.,
Question # 17
A product which has value price in the market has.
Question # 18
When MU is positive, TU
Question # 19
The value of a product depends upon.
Question # 20
If a consumer moves upward along an indifference curve, his total utility
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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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S Saad Sadiq 03 - May - 2024 02 Min 06 Sec 14/20 -
L Laiba Sehar45 15 - Nov - 2024 02 Min 40 Sec 14/20 -
A Ahmed Palijo 11 - May - 2024 04 Min 54 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | 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
|
| 3 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 4 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 5 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 6 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
| 7 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 8 | 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
|
| 9 | 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
|
| 10 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
Test Questions