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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
One of the following is non economic want:
Question # 2
One of the following is not assumption of law of diminishing marginal utility
Question # 3
Want of a commodity is satisfied, when its marginal utility is
Question # 4
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity
Question # 5
Law of diminishing marginal utility provides basis for:
Question # 6
To determine consumer's equilibrium, professor Marshall got help from the law
Question # 7
Capital goods are those which can satisfy human wants:
Question # 8
When marginal utility is negative, total utility:
Question # 9
On which of the following law of diminishing marginal utility is applicable
Question # 10
The power of a good or service to satisfy a human want is called:
Question # 11
Total utility is maximum when marginal utility is
Question # 12
According to law of diminishing marginal utility, marginal utility of a commodity
Question # 13
Total utility always:
Question # 14
Utility can not be measurable who has said
Question # 15
Concept of law of diminishing marginal utility was presented by professor
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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A Angle Jasmine 04 - May - 2024 01 Min 24 Sec 15/15 -
Z Zeeshan Haider 01 - Jul - 2024 00 Min 58 Sec 14/15 -
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M Musa Aziz 08 - May - 2026 01 Min 46 Sec 14/15 -
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A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
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M Minahil Riaz 30 - Mar - 2026 04 Min 20 Sec 13/15 -
A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Marginal utility always: |
A. Decreases
B. Increases
C. Zero
D. Negative
|
| 2 | To determine consumer's equilibrium, professor Marshall got help from the law |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of constant return
|
| 3 | Law of equi-marginal utility is also known as: |
A. Total utility maximizing law
B. Law of substitution
C. Law of indifference
D. All of them
|
| 4 | Feature of a commodity to satisfy human want, is called |
A. Value
B. Usefulness
C. Utility
D. Wealth
|
| 5 | Utility is related with |
A. Usefulness
B. Useless
C. Necessities
D. Desire
|
| 6 | Economist who presented the first law of consumption |
A. Marshall
B. Adam smith
C. Robbins
D. Pigou
|
| 7 | Which of the following stated that utility is measurable |
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
|
| 8 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 9 | When marginal utility is zero, than total utility is: |
A. Minimum
B. Positive
C. Maximum
D. Zero
|
| 10 | Initial utility is ______ individual utilities of all the units |
A. More than
B. Less than
C. Equal to
D. None of these
|
Test Questions
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