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This online test contains MCQs about following topics:
. Market demand . Law of demand . Changes in demand . Supply . Law of supply . changes in supply . Equilibrium of demand and supply . Price determination under perfect competition
ICOM Part 1 Economics Ch 2 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 2 "Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test"
Try The MCQ's Test For Chapter 2 "Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test
00:00
Question # 1
Other name of law of equi marginal utility is
Question # 2
On which of the following law of diminishing marginal utility is applicable
Question # 3
Marginal utility always:
Question # 4
Which economist did present, cardinal theory of utility
Question # 5
Which of the following stated that utility is measurable
Question # 6
Concept of law of diminishing marginal utility was presented by professor
Question # 7
Which law provides the base of law of demand
Question # 8
Total utility always:
Question # 9
Consumer's behaviour means:
Question # 10
Slope of marginal utility curve is
Question # 11
Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called
Question # 12
Consumer goods are those goods which the consumers consume
Question # 13
Consumer's equilibrium takes place at that point where:
Question # 14
When marginal utility is zero, than total utility is:
Question # 15
Total utility is maximum when marginal utility is
11th Principle of Economics Chapter 2 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 2 Consumer's Demand Theory Test. Click the button for 100% free full practice test.
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ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Initial utility is ______ individual utilities of all the units |
A. More than
B. Less than
C. Equal to
D. None of these
|
| 2 | On which of the following law of diminishing marginal utility is applicable |
A. Money and wealth
B. Diamonds and jewels
C. Goods of fashion
D. Necessities of life
|
| 3 | The power of a good or service to satisfy a human want is called: |
A. Value
B. Price
C. Utility
D. All of them
|
| 4 | Which of the following stated that utility is measurable |
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
|
| 5 | Marginal utility at the point of satiety is |
A. Zero
B. Positive
C. Negative
D. Initial
|
| 6 | When marginal utility is positive, total utility: |
A. Decreases
B. Increases
C. Zero
D. All of them
|
| 7 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
|
| 8 | Total utility decreases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Maximum
|
| 9 | Utility attained by all the units of a commodity consumed |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 10 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
Test Questions