Economics Ics Part 1 English Medium Chapter 2 Online Test With Answers

image
image
image

Economics Ics Part 1 English Medium Chapter 2 Online Test

Sr. # Questions Answers Choice
1 General price level and real income of the people are correlated with each other Negatively Positovely Normally Sub normally
2 One of the following will not be the income of a person. Wages Profit Sccholarship Salary
3 A product which has value price in the market has. Utility Scarcity Transferability All the three
4 The number of goods and services which one unit of a product can command in exchange for it is its. Value of money Value in exchange Price Utility
5 Utility of a product depends upon Knowledge Ownership Form All of them
6 Power of a product which can satisfy human want is. Utility Total utility Average utility Marginal utility
7 The good which are used to produce more goods are.`` Social goods Capital goods Consumer goods Public goods
8 Goods which can satisfy human wants are. Consumer goods Capital goods Social goods Public goods
9 Economic wants. Can unlimited Capital goods Social goods Public goods
10 The price of an non-economic good is: Very low Very high Zero Negative
11 The value of a product depends upon. The number of dollars The numbers of dollars which can be given in exchange for it The current exchange rate. None of them
12 The utility of durable consumer goods. Diminishes with the passage of time Perishes, if not used Can be obtained constantly None of the three
13 Shopkeepers are also producers because in goods, they produce. Form utility Time utility Use utility Place utility
14 Only those goods are priced in the market which have: Utility Sacrcity Transferability All of the above
15 The goods used to produce income or wealth are., Consumer goods Manufactured goods Merit goods Capital goods
16 Food, Shelter and clothing are: Necessities Comfort Luxuries. None of three
17 .Which one is not an economic want. Want for food Want to be a doctor Want to fall in love Non of the above
18 If a consumer moves upward along an indifference curve, his total utility falls to zero does not change increases decreases
19 If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be equal unequal increasing decreasing
20 Equilibrium of consumer is explained by negative utility positive utility marginal utility profit
Download This Set
×