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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 decreasing part of TU curve shows:
Question # 2
Utility of a commodity is zero, when
Question # 3
Guides finance minister for levying tax on the income of the people
Question # 4
According to which economist, utility is measureable
Question # 5
When no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 6
Utility is related with
Question # 7
In mathematics, symbol for utility is used
Question # 8
When marginal utility is positive, total utility
Question # 9
First law of consumption is known as:
Question # 10
Consumer's equilibrium takes place at that point where:
Question # 11
Consumer goods are those goods which the consumers consume
Question # 12
Human wants are:
Question # 13
Which economist did present, cardinal theory of utility
Question # 14
The concept of utility is:
Question # 15
Marginal utility curve moves
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 -
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 -
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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 | Slope of marginal utility curve is |
A. Positive
B. Negative
C. Vertical
D. Horizontal
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| 2 | 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
|
| 3 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
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| 4 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 5 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
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| 6 | 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
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| 7 | According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity |
A. Increases
B. Decreases
C. Remains constant
D. None of these
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| 8 | Other name of law of equi marginal utility is |
A. Law of diminishing marginal utility
B. Law of demand
C. Law of constant return
D. Law of indifference
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| 9 | Total utility increases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
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| 10 | 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
|
Test Questions
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