11th Class ICom Part 1 Principles of Economics Chapter Wise Online MCQ Test With Answers PDF English Medium

Principles of Economics Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	Law of diminishing marginal utility provides basis for:	Law of demand Law of equi marginal utility Law of supply Both (a) and (b)
2	The decreasing part of TU curve shows:	MU is zero MU is negative MU is increasing MU is decreasing
3	First law of consumption is known as:	Law of supply Law of demand Law of diminishing marginal utility Law of equi marginal utility
4	Capital goods are those which can satisfy human wants:	Directly Indirectly Proportionate None of these
5	Total utility always:	Decreases 1st increases then decreases Maximum Negative
6	Marginal utility always:	Decreases Increases Zero Negative
7	When marginal utility is negative, total utility:	Decreases Increases Does not change Negative
8	When marginal utility is zero, than total utility is:	Minimum Positive Maximum Zero
9	When marginal utility is positive, total utility:	Decreases Increases Zero All of them
10	Initial utility of a product is:	Highest Lowest Constant All of these
11	The term marginal in economics means:	An additional unit Change in unit Last unit All of them
12	Cardinal utility approach was presented by:	Adam smith Keynes Robbins Marshall
13	Human wants are:	Limited Unlimited Re-appear Both (b) and (c)
14	The power of a good or service to satisfy a human want is called:	Value Price Utility All of them
15	The concept of utility is:	Subjective Moral Objective Neutral