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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
Capital goods are those which can satisfy human wants:
Question # 2
The concept of utility is:
Question # 3
On which of the following law of diminishing marginal utility is applicable
Question # 4
Law of diminishing marginal utility provides basis for:
Question # 5
When marginal utility is zero, than total utility is:
Question # 6
Which economist did present, cardinal theory of utility
Question # 7
Marginal utility curve moves
Question # 8
Economist who presented the first law of consumption
Question # 9
One of the following is not assumption of law of diminishing marginal utility
Question # 10
Cardinal utility approach was presented by:
Question # 11
Guides finance minister for levying tax on the income of the people
Question # 12
Total utility is maximum when marginal utility is
Question # 13
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity
Question # 14
TU is maximum where MU of all goods is:
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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ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | First law of consumption is known as: |
A. Law of supply
B. Law of demand
C. Law of diminishing marginal utility
D. Law of equi marginal utility
|
| 2 | Curve of law of diminishing marginal utility |
A. Moves from left to right downward
B. Moves from left to right upward
C. Firstly it has a tendency to rise up and after a certain limit it starts falling
D. It is parallel to ox-axis
|
| 3 | Marginal utility always: |
A. Decreases
B. Increases
C. Zero
D. Negative
|
| 4 | Utility is related with |
A. Usefulness
B. Useless
C. Necessities
D. Desire
|
| 5 | 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
|
| 6 | When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
A. Zero
B. Positive
C. Negative
D. Minimum
|
| 7 | Consumer's behaviour means: |
A. Selection
B. Purchase
C. Sale
D. Both (a) and (b)
|
| 8 | Economist who presented the first law of consumption |
A. Marshall
B. Adam smith
C. Robbins
D. Pigou
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| 9 | Utility of the last unit of a commodity consumed is called |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 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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