Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
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"
-
Total Questions15
-
Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test
00:00
Question # 1
When marginal utility is positive, total utility:
Question # 2
Initial utility of a product is:
Question # 3
When no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 4
On which of the following law of diminishing marginal utility is applicable
Question # 5
TU is maximum where MU of all goods is:
Question # 6
Utility attained by consuming an additional or last unit of a commodity
Question # 7
The name of first law of consumption is
Question # 8
Want of a commodity is satisfied, when its marginal utility is
Question # 9
According to law of diminishing marginal utility, marginal utility of a commodity
Question # 10
When marginal utility is positive, total utility
Question # 11
One of the following is not assumption of law of diminishing marginal utility
Question # 12
Marginal utility at the point of satiety is
Question # 13
One of the following is non economic want:
Question # 14
According to which economist, utility is measureable
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
-
U Unknown 01 - Jul - 2024 00 Min 09 Sec 15/15 -
S Sohaib Rana 26 - Jun - 2026 00 Min 57 Sec 15/15 -
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 -
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 decreases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Maximum
|
| 2 | Slope of marginal utility curve is |
A. Positive
B. Negative
C. Vertical
D. Horizontal
|
| 3 | Human wants are: |
A. Limited
B. Unlimited
C. Re-appear
D. Both (b) and (c)
|
| 4 | 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
|
| 5 | 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
|
| 6 | When marginal utility is zero, then total utility is |
A. Minimum
B. Positive
C. Maximum
D. Zero
|
| 7 | Economist who presented the first law of consumption |
A. Marshall
B. Adam smith
C. Robbins
D. Pigou
|
| 8 | Consumer goods are those goods which the consumers consume |
A. Directly
B. Indirectly
C. Sometimes
D. Never
|
| 9 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 10 | Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of decreasing return
|
Test Questions
Share your comments & questions here
No comments yet. Be the first to comment!