First Year Principles of Economics Chapter 2 Online MCQ Test for 1st Year Principles of Economics Chapter 2 (Consumer's Demand Theory)

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
Start Economics Ch 2 Test
ic

ICOM Part 1 English Medium Subjects

icon
Principles of Accounting
icon
Principles of Economics
icon
Principles of Commerce
icon
English
icon
Islamiat
icon
Business Mathematics
icon
Urdu

ICOM Part 1 Urdu Medium Subjects

icon
Urdu
icon
Business Mathematics
icon
Islamiat
icon
English
icon
Principles of Commerce
icon
Principles of Economics
icon
Principles of Accounting

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"

  • Total Questions15

  • Time Allowed20

Start Test Download PDF

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 is applied when marginal utilities of all the purchased goods become equal to each other

Question # 3

When no satisfaction is attained by the consumption of a commodity, its marginal utility is

Question # 4

Human wants are:

Question # 5

Consumer's behaviour means:

Question # 6

Total utility increases when marginal utility is

Question # 7

The price of non-economic want is always:

Question # 8

Law of diminishing marginal utility provides basis for:

Question # 9

Marginal utility always:

Question # 10

Utility attained by the consumption of first unit of a commodity is called

Question # 11

Economist who presented the first law of consumption

Question # 12

According to law of diminishing marginal utility, marginal utility of a commodity

Question # 13

Objective of a rational consumer is

Question # 14

Feature of a commodity to satisfy human want, is called

Question # 15

Want of a commodity is satisfied, when its marginal utility is

Submit

Prepare Complete Set Wise Chapter 2 "Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test" MCQs Online With Answers


Topic Test

00:00
Submit
ic-science-white
Prin. of Economics
2nd Chapter

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.

Start Chapter 2 Test

Top Scorers Of Chapter 2 "Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test" MCQ`s Test

  • 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 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
2 The decreasing part of TU curve shows:
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
3 When total utility is increasing marginal utility is
A. Zero
B. Positive
C. Negative
D. Maximum
4 Initial utility is ______ individual utilities of all the units
A. More than
B. Less than
C. Equal to
D. None of these
5 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
6 Consumer's equilibrium takes place at that point where:
A. MU is negative
B. MU is positve
C. TU is maximum
D. MU is maximum
7 When marginal utility is positive, total utility:
A. Decreases
B. Increases
C. Zero
D. All of them
8 Consumer goods are those goods which the consumers consume
A. Directly
B. Indirectly
C. Sometimes
D. Never
9 On which of the following law of diminishing marginal utility is applicable
A. Money and wealth
B. Historical articles
C. Normal goods of need
D. Narcotics
10 Feature of a commodity to satisfy human want, is called
A. Value
B. Usefulness
C. Utility
D. Wealth

Test Questions