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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
Which economist stated that utility is not measurable
Question # 2
On which of the following law of diminishing marginal utility is applicable
Question # 3
The power of a good or service to satisfy a human want is called:
Question # 4
Utility attained by consuming an additional or last unit of a commodity
Question # 5
According to which economist, utility is measureable
Question # 6
Which of the following stated that utility is measurable
Question # 7
Economist who presented the first law of consumption
Question # 8
When marginal utility is negative, then total utility
Question # 9
Total utility is maximum when marginal utility is
Question # 10
Cardinal utility approach was presented by:
Question # 11
Guides finance minister for levying tax on the income of the people
Question # 12
According to law of diminishing marginal utility, marginal utility of a commodity
Question # 13
The decreasing part of TU curve shows:
Question # 14
Feature of a commodity to satisfy human want, is called
Question # 15
Human wants are:
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.
Top Scorers Of Chapter 2 "Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test" MCQ`s Test
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U Unknown 01 - Jul - 2024 00 Min 09 Sec 15/15 -
A Angle Jasmine 04 - May - 2024 01 Min 24 Sec 15/15 -
Z Zeeshan Haider 01 - Jul - 2024 00 Min 58 Sec 14/15 -
A Ali Imtiaz 16 - Jan - 2025 01 Min 27 Sec 14/15 -
Z Zafar Ali 22 - May - 2024 01 Min 45 Sec 14/15 -
L Lily 24 - Oct - 2025 02 Min 25 Sec 14/15 -
U Usva Azam 24 - Nov - 2024 02 Min 27 Sec 14/15 -
U umer 06 - Aug - 2024 02 Min 39 Sec 14/15 -
F Faizan Bakhsh 06 - Dec - 2023 01 Min 07 Sec 13/15 -
A Abeer 07 - Feb - 2024 02 Min 08 Sec 13/15 -
A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
A Ahmad Wazir Khan 19 - Apr - 2024 03 Min 25 Sec 13/15 -
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A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15 -
S Sania Butt 29 - May - 2024 04 Min 02 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Consumer's behaviour means: |
A. Selection
B. Purchase
C. Sale
D. Both (a) and (b)
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| 2 | First and basic law of consumption is |
A. Law of demand
B. Law of decreasing return
C. Law of supply
D. Law of diminishing marginal utility
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| 3 | Utility attained by consuming an additional or last unit of a commodity |
A. Positive utility
B. Negative utility
C. Zero utility
D. Marginal utility
|
| 4 | Total utility is maximum when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
| 5 | 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
|
| 6 | The concept of utility is: |
A. Subjective
B. Moral
C. Objective
D. Neutral
|
| 7 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
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| 8 | The name of first law of consumption is |
A. Law of demand
B. Law of diminishing marginal utility
C. Law of equi marginal utility
D. Law of supply
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| 9 | The term marginal in economics means: |
A. An additional unit
B. Change in unit
C. Last unit
D. All of them
|
| 10 | Consumer goods are those goods which the consumers consume |
A. Directly
B. Indirectly
C. Sometimes
D. Never
|
Test Questions
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