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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
When marginal utility is negative, total utility:
Question # 2
One of the following is non economic want:
Question # 3
Capital goods are those which can satisfy human wants:
Question # 4
Objective of a rational consumer is
Question # 5
Total utility is maximum when marginal utility is
Question # 6
The term marginal in economics means:
Question # 7
Utility can not be measurable who has said
Question # 8
Utility of a commodity is zero, when
Question # 9
When marginal utility is positive, total utility:
Question # 10
Economist who presented the first law of consumption
Question # 11
Marginal utility at the point of satiety is
Question # 12
When marginal utility is negative, then total utility
Question # 13
After achieving point of Satiation the total utility starts
Question # 14
Marginal utility always:
Question # 15
According to law of diminishing marginal utility, marginal utility of a commodity
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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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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ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Utility of the last unit of a commodity consumed is called |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
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| 2 | Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of decreasing return
|
| 3 | Which law is applied when marginal utilities of all the purchased goods become equal to each other |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of increasing return
|
| 4 | Capital goods are those which can satisfy human wants: |
A. Directly
B. Indirectly
C. Proportionate
D. None of these
|
| 5 | Utility attained by all the units of a commodity consumed |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 6 | Which economist did present, cardinal theory of utility |
A. Marshall
B. Karoos
C. Cannon
D. J.B. Say
|
| 7 | 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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| 8 | Marginal utility curve moves |
A. From left to right downward
B. From left to right upward
C. Parallel to ox axis
D. Parallel to oy axis
|
| 9 | 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)
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| 10 | 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
|
Test Questions