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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
The decreasing part of TU curve shows:
Question # 2
In mathematics, symbol for utility is used
Question # 3
Concept of law of diminishing marginal utility was presented by professor
Question # 4
To determine consumer's equilibrium, professor Marshall got help from the law
Question # 5
The price of non-economic want is always:
Question # 6
When marginal utility is zero, then total utility is
Question # 7
Utility attained by all the units of a commodity consumed
Question # 8
Total utility always:
Question # 9
When total utility is increasing marginal utility is
Question # 10
Which economist did present, cardinal theory of utility
Question # 11
Consumer's equilibrium takes place at that point where:
Question # 12
Initial utility of a product is:
Question # 13
One of the following is non economic want:
Question # 14
Marginal utility always:
Question # 15
Consumer's behaviour means:
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 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 2 | Marginal utility at the point of satiety is |
A. Zero
B. Positive
C. Negative
D. Initial
|
| 3 | Which of the following stated that utility is measurable |
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
|
| 4 | When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
A. Zero
B. Positive
C. Negative
D. Minimum
|
| 5 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 6 | Total utility always: |
A. Decreases
B. 1st increases then decreases
C. Maximum
D. Negative
|
| 7 | Human wants are: |
A. Limited
B. Unlimited
C. Re-appear
D. Both (b) and (c)
|
| 8 | Consumer goods are those goods which the consumers consume |
A. Directly
B. Indirectly
C. Sometimes
D. Never
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| 9 | Concept of law of diminishing marginal utility was presented by professor |
A. Marshall
B. Robbins
C. Keynes
D. Pigou
|
| 10 | First and basic law of consumption is |
A. Law of demand
B. Law of decreasing return
C. Law of supply
D. Law of diminishing marginal utility
|
Test Questions