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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
Consumer goods are those goods which the consumers consume
Question # 2
Which of the following stated that utility is measurable
Question # 3
Total utility is maximum when marginal utility is
Question # 4
The price of non-economic want is always:
Question # 5
Which economist stated that utility is not measurable
Question # 6
Law of diminishing marginal utility provides basis for:
Question # 7
Concept of law of diminishing marginal utility was presented by professor
Question # 8
Utility can not be measurable who has said
Question # 9
When marginal utility is zero, then total utility is
Question # 10
When no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 11
Total utility increases when marginal utility is
Question # 12
Guides finance minister for levying tax on the income of the people
Question # 13
When marginal utility is positive, total utility:
Question # 14
Initial utility is ______ individual utilities of all the units
Question # 15
First and basic law of consumption 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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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 -
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 -
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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 | Economist who presented the first law of consumption |
A. Marshall
B. Adam smith
C. Robbins
D. Pigou
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| 2 | 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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| 3 | The concept of utility is: |
A. Subjective
B. Moral
C. Objective
D. Neutral
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| 4 | Initial utility of a product is: |
A. Highest
B. Lowest
C. Constant
D. All of these
|
| 5 | 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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| 6 | Utility attained by the consumption of first unit of a commodity is called |
A. Positive utility
B. Negative utility
C. Initial utility
D. Zero utility
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| 7 | One of the following is not assumption of law of diminishing marginal utility |
A. Same nature of the commodity
B. Consumption of the commodity with intervals
C. Suitable quantity of the commodity
D. No change in consumers mental condition
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| 8 | Total utility decreases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Maximum
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| 9 | Which economist did present, cardinal theory of utility |
A. Marshall
B. Karoos
C. Cannon
D. J.B. Say
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| 10 | According to law of diminishing marginal utility, marginal utility of a commodity |
A. Increases
B. Decreases
C. Remains constant
D. Become negative
|
Test Questions
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