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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
Capital goods are those which can satisfy human wants:
Question # 3
After achieving point of Satiation the total utility starts
Question # 4
Feature of a commodity to satisfy human want, is called
Question # 5
On which of the following law of diminishing marginal utility is applicable
Question # 6
Which of the following stated that utility is measurable
Question # 7
Marginal utility curve moves
Question # 8
Which economist stated that utility is not measurable
Question # 9
The name of first law of consumption is
Question # 10
The term marginal in economics means:
Question # 11
Consumer goods are those goods which the consumers consume
Question # 12
Marginal utility always:
Question # 13
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity
Question # 14
Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called
Question # 15
Concept of law of diminishing marginal utility was presented by professor
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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Z Zeeshan Haider 01 - Jul - 2024 00 Min 58 Sec 14/15 -
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A Arzoo Qaiser 30 - Jan - 2026 02 Min 43 Sec 12/15 -
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ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When marginal utility is zero, then total utility is |
A. Minimum
B. Positive
C. Maximum
D. Zero
|
| 2 | Human wants are: |
A. Limited
B. Unlimited
C. Re-appear
D. Both (b) and (c)
|
| 3 | Total utility is maximum when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
| 4 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 5 | The concept of utility is: |
A. Subjective
B. Moral
C. Objective
D. Neutral
|
| 6 | After achieving point of Satiation the total utility starts |
A. Rising
B. Declining
C. Remains constant
D. None of these
|
| 7 | 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
|
| 8 | Utility of the last unit of a commodity consumed is called |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 9 | When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
A. Zero
B. Positive
C. Negative
D. Minimum
|
| 10 | Utility can not be measurable who has said |
A. Marshall
B. Hicks
C. Pigue
D. Adam Smith
|
Test Questions