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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
Marginal utility always:
Question # 2
Initial utility of a product is:
Question # 3
Utility attained by the consumption of first unit of a commodity is called
Question # 4
Utility attained by all the units of a commodity consumed
Question # 5
Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called
Question # 6
In mathematics, symbol for utility is used
Question # 7
Utility attained by consuming an additional or last unit of a commodity
Question # 8
Consumer's behaviour means:
Question # 9
When marginal utility is zero, than total utility is:
Question # 10
TU is maximum where MU of all goods is:
Question # 11
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 12
Utility of a commodity is zero, when
Question # 13
Utility can not be measurable who has said
Question # 14
Which of the following stated that utility is measurable
Question # 15
Which law provides the base of law of demand
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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U Unknown 01 - Jul - 2024 00 Min 09 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 -
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 -
F Faizan Bakhsh 06 - Dec - 2023 01 Min 07 Sec 13/15 -
A Abeer 07 - Feb - 2024 02 Min 08 Sec 13/15 -
A Abdullah Aslam 06 - Aug - 2024 02 Min 36 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 -
A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15 -
S Sania Butt 29 - May - 2024 04 Min 02 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Utility of the last unit of a commodity consumed is called |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 2 | Total utility increases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
| 3 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 4 | Law of diminishing marginal utility provides basis for: |
A. Law of demand
B. Law of equi marginal utility
C. Law of supply
D. Both (a) and (b)
|
| 5 | Feature of a commodity to satisfy human want, is called |
A. Value
B. Usefulness
C. Utility
D. Wealth
|
| 6 | When total utility is decreasing, marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 7 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 8 | Initial utility is ______ individual utilities of all the units |
A. More than
B. Less than
C. Equal to
D. None of these
|
| 9 | On which of the following law of diminishing marginal utility is applicable |
A. Money and wealth
B. Diamonds and jewels
C. Goods of fashion
D. Necessities of life
|
| 10 | The power of a good or service to satisfy a human want is called: |
A. Value
B. Price
C. Utility
D. All of them
|
Test Questions
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