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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
The concept of utility is:
Question # 2
Which law provides the base of law of demand
Question # 3
TU is maximum where MU of all goods is:
Question # 4
Capital goods are those which can satisfy human wants:
Question # 5
Initial utility of a product is:
Question # 6
The term marginal in economics means:
Question # 7
Slope of marginal utility curve is
Question # 8
Consumer's behaviour means:
Question # 9
Curve of law of diminishing marginal utility
Question # 10
Other name of law of equi marginal utility is
Question # 11
Guides finance minister for levying tax on the income of the people
Question # 12
Marginal utility curve moves
Question # 13
When marginal utility is positive, total utility:
Question # 14
After achieving point of Satiation the total utility starts
Question # 15
Total utility always:
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 -
A Ali Imtiaz 16 - Jan - 2025 01 Min 27 Sec 14/15 -
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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 -
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A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
K Known Person 13 - Apr - 2026 02 Min 46 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 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 2 | Feature of a commodity to satisfy human want, is called |
A. Value
B. Usefulness
C. Utility
D. Wealth
|
| 3 | Curve of law of diminishing marginal utility |
A. Moves from left to right downward
B. Moves from left to right upward
C. Firstly it has a tendency to rise up and after a certain limit it starts falling
D. It is parallel to ox-axis
|
| 4 | When marginal utility is negative, total utility: |
A. Decreases
B. Increases
C. Does not change
D. Negative
|
| 5 | Consumer goods are those goods which the consumers consume |
A. Directly
B. Indirectly
C. Sometimes
D. Never
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| 6 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
|
| 7 | Total utility always: |
A. Decreases
B. 1st increases then decreases
C. Maximum
D. Negative
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| 8 | Which law provides the base of law of demand |
A. Law of supply
B. Law of diminishing marginal utility
C. Law of equi marginal utility
D. Law of decreasing return
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| 9 | The power of a good or service to satisfy a human want is called: |
A. Value
B. Price
C. Utility
D. All of them
|
| 10 | Utility attained by consuming an additional or last unit of a commodity |
A. Positive utility
B. Negative utility
C. Zero utility
D. Marginal utility
|
Test Questions
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