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	Guides finance minister for levying tax on the income of the people	Law of demand Law of equi marginal utility Law of diminishing marginal utility Law of supply
2	Concept of law of diminishing marginal utility was presented by professor	Marshall Robbins Keynes Pigou
3	Utility attained by the consumption of first unit of a commodity is called	Positive utility Negative utility Initial utility Zero utility
4	The name of first law of consumption is	Law of demand Law of diminishing marginal utility Law of equi marginal utility Law of supply
5	Marginal utility at the point of satiety is	Zero Positive Negative Initial
6	When total utility is increasing marginal utility is	Zero Positive Negative Maximum
7	When total utility is decreasing, marginal utility is	Zero Positive Negative Maximum
8	When no satisfaction is attained by the consumption of a commodity, its marginal utility is	Zero Positive Negative Minimum
9	Want of a commodity is satisfied, when its marginal utility is	Positive Zero Negative Minimum
10	Consumer goods are those goods which the consumers consume	Directly Indirectly Sometimes Never
11	According to law of diminishing marginal utility, marginal utility of a commodity	Increases Decreases Remains constant Become negative
12	Which economist did present, cardinal theory of utility	Marshall Karoos Cannon J.B. Say
13	One of the following is not assumption of law of diminishing marginal utility	Same nature of the commodity Consumption of the commodity with intervals Suitable quantity of the commodity No change in consumers mental condition
14	On which of the following law of diminishing marginal utility is applicable	Money and wealth Historical articles Normal goods of need Narcotics
15	Which economist stated that utility is not measurable	Adam Smith Marshall Cannon Hicks

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