Question # 1

______ is a science which is concerned with the collection, presentation, and interpretation of numerical data

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Statistics

Economics analysis

Function

None of these

If we plot the equation y = 20 +3x, its slope is

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20

3

20/3

Indeterminate

Marginal utility of a product is the utility obtained by consuming.

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First unit of consummption

Each additional unit of consumption

Last unit of consumption

None of the them

How many kinds of data?

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2

3

4

5

Law of equimarginal utility is also called.

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Law of substitution

Law of maximum social benefits

Law of economy

Law of maximum satisfaction

A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.

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Negatively slop curve

An indifference curve

Positively sloped Curve

None of the above

The maintain social status in life, a person requires.

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Bare necessities of life

Comforts of life

Luxuries of life

All of them

How many kinds of equations?

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4

3

2

5

How many kinds of Function

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2

3

4

5

A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of

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Prof. Kooros

Prof. Marshall

Prof. Rabbins

Prof. Kneez

In mathematics which letters at the end of alphabet are used to represent variables

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(u,v,w,x,y,z)

(a,b.c.d.e.f.g)

(a.b.c.u.v.w)

((x,y,z,a,b,c)

According to law of diminishing marginal utilities , a consumer maximises his total utility where.

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MU_a = MP_a

MU_a = AU_a

MU_a = TC_a

MU_a = P_a

The first law of consumption was presented by.

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Robert Malthus

Loinel Robbins

Alfred Marshall

Pareto

How many Kinds of variables?

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There are many kinds of variables

There are 2 kinds of variables

There are 3 kinds of variables

There are 4 kinds of variables

One of the following will not be an assumption of the law of diminishing marginal utility.

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Nature of the product should not changed

Mental condition of the consumer

Income of the consumer should not changed

None of the three

Law of equi marginal utility provides basis for.

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Equal distribution of wealth

Economy in taxation

Law of diminishing returns

Law of constant returns

A bridge will be a

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Private good

Capital goods

Consumer good

Personal good

One of the following is not an exception to the law of diminishing marginal utility .

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Money

Knowledge

Music

Non of them

To show data in tables, we must first

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reduce data

expand data

classify data

all of the above

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Economics Ics Part 1 English Medium Chapter 3 Online Test MCQs With Answers

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