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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
Want of a commodity is satisfied, when its marginal utility is
Question # 2
When marginal utility is zero, than total utility is:
Question # 3
The price of non-economic want is always:
Question # 4
When no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 5
Total utility increases when marginal utility is
Question # 6
Which economist did present, cardinal theory of utility
Question # 7
Utility attained by the consumption of first unit of a commodity is called
Question # 8
Utility is related with
Question # 9
The decreasing part of TU curve shows:
Question # 10
After achieving point of Satiation the total utility starts
Question # 11
On which of the following law of diminishing marginal utility is applicable
Question # 12
Which of the following stated that utility is measurable
Question # 13
Guides finance minister for levying tax on the income of the people
Question # 14
TU is maximum where MU of all goods is:
Question # 15
One of the following is not assumption of law of diminishing marginal utility
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 -
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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 | When marginal utility is zero, then total utility is |
A. Minimum
B. Positive
C. Maximum
D. Zero
|
| 2 | Concept of law of diminishing marginal utility was presented by professor |
A. Marshall
B. Robbins
C. Keynes
D. Pigou
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| 3 | Other name of law of equi marginal utility is |
A. Law of diminishing marginal utility
B. Law of demand
C. Law of constant return
D. Law of indifference
|
| 4 | Utility can not be measurable who has said |
A. Marshall
B. Hicks
C. Pigue
D. Adam Smith
|
| 5 | Consumer's equilibrium takes place at that point where: |
A. MU is negative
B. MU is positve
C. TU is maximum
D. MU is maximum
|
| 6 | Slope of marginal utility curve is |
A. Positive
B. Negative
C. Vertical
D. Horizontal
|
| 7 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
|
| 8 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 9 | Want of a commodity is satisfied, when its marginal utility is |
A. Positive
B. Zero
C. Negative
D. Minimum
|
| 10 | Total utility is maximum when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
Test Questions