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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
Who said that utility cannot be measured
Question # 3
When marginal utility is negative, total utility:
Question # 4
According to which economist, utility is measureable
Question # 5
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 6
The price of non-economic want is always:
Question # 7
The power of a good or service to satisfy a human want is called:
Question # 8
Total utility increases when marginal utility is
Question # 9
Utility is related with
Question # 10
TU is maximum where MU of all goods is:
Question # 11
First and basic law of consumption is
Question # 12
After achieving point of Satiation the total utility starts
Question # 13
Economist who presented the first law of consumption
Question # 14
Utility attained by all the units of a commodity consumed
Question # 15
Initial utility of a product 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.
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 -
S Sohaib Rana 26 - Jun - 2026 00 Min 57 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 -
M Musa Aziz 08 - May - 2026 01 Min 46 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 -
A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
K Known Person 13 - Apr - 2026 02 Min 46 Sec 13/15 -
A Ahmad Wazir Khan 19 - Apr - 2024 03 Min 25 Sec 13/15 -
B Bilal zafar 07 - Jun - 2024 03 Min 58 Sec 13/15 -
M Minahil Riaz 30 - Mar - 2026 04 Min 20 Sec 13/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Utility is related with |
A. Usefulness
B. Useless
C. Necessities
D. Desire
|
| 3 | When marginal utility is negative, then total utility |
A. Decreases
B. Increases
C. Does not change
D. Becomes negative
|
| 4 | Law of diminishing marginal utility provides basis for: |
A. Law of demand
B. Law of equi marginal utility
C. Law of supply
D. Both (a) and (b)
|
| 5 | 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
|
| 6 | Economist who presented the first law of consumption |
A. Marshall
B. Adam smith
C. Robbins
D. Pigou
|
| 7 | Total utility increases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
| 8 | Human wants are: |
A. Limited
B. Unlimited
C. Re-appear
D. Both (b) and (c)
|
| 9 | Utility of the last unit of a commodity consumed is called |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 10 | The decreasing part of TU curve shows: |
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
|
Test Questions
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