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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
Law of diminishing marginal utility provides basis for:
Question # 2
Guides finance minister for levying tax on the income of the people
Question # 3
The power of a good or service to satisfy a human want is called:
Question # 4
On which of the following law of diminishing marginal utility is applicable
Question # 5
Cardinal utility approach was presented by:
Question # 6
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 7
The concept of utility is:
Question # 8
After achieving point of Satiation the total utility starts
Question # 9
Total utility decreases when marginal utility is
Question # 10
The term marginal in economics means:
Question # 11
When marginal utility is zero, than total utility is:
Question # 12
TU is maximum where MU of all goods is:
Question # 13
Economist who presented the first law of consumption
Question # 14
According to law of diminishing marginal utility, marginal utility of a commodity
Question # 15
Total utility is maximum when marginal utility 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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S Sohaib Rana 26 - Jun - 2026 00 Min 57 Sec 15/15 -
A Angle Jasmine 04 - May - 2024 01 Min 24 Sec 15/15 -
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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 -
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A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
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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 | Total utility increases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
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| 2 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
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| 3 | The decreasing part of TU curve shows: |
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
|
| 4 | The term marginal in economics means: |
A. An additional unit
B. Change in unit
C. Last unit
D. All of them
|
| 5 | TU is maximum where MU of all goods is: |
A. Minimum
B. Maximum
C. Negative
D. Equal
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| 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 | Utility can not be measurable who has said |
A. Marshall
B. Hicks
C. Pigue
D. Adam Smith
|
| 8 | When marginal utility is positive, total utility |
A. Goes on decreasing
B. Goes on increasing
C. Does not change
D. Is zero
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| 9 | Total utility always: |
A. Decreases
B. 1st increases then decreases
C. Maximum
D. Negative
|
| 10 | Who said that utility cannot be measured |
A. Adam smith
B. Marshall
C. Keynes
D. Hicks
|
Test Questions