Economics Ics Part 1 English Medium Chapter 2 Online Test

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  • Available questions37
  • Chapter Name2
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Economics Ics Part 1 English Medium Chapter 2 Online Test

  • Total Questions20

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 2 Online Test

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Question # 1

Diminishing marginal utility is the basis of

Question # 2

Economic wants.

Question # 3

When marginal is negative, it must be true that

Question # 4

The utility of durable consumer goods.

Question # 5

The value of a product depends upon.

Question # 6

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

Question # 7

Goods which can satisfy human wants are.

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

Law of substitution is another name for

Question # 10

The goods used to produce income or wealth are.,

Question # 11

Utility and usefulness are

Question # 12

Rotten eggs are

Question # 13

When MU=0, TU is

Question # 14

Indifference curves are convex to the origin because

Question # 15

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

Question # 16

Food, Shelter and clothing are:

Question # 17

A consumer in equilibrium when marginal utilities are

Question # 18

Only those goods are priced in the market which have:

Question # 19

Equilibrium of consumer is explained by

Question # 20

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

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