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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
Objective of a rational consumer is
Question # 2
When marginal utility is positive, total utility
Question # 3
According to law of diminishing marginal utility, marginal utility of a commodity
Question # 4
Cardinal utility approach was presented by:
Question # 5
Utility of a commodity is zero, when
Question # 6
First law of consumption is known as:
Question # 7
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity
Question # 8
Economist who presented the first law of consumption
Question # 9
Total utility always:
Question # 10
The concept of utility is:
Question # 11
Feature of a commodity to satisfy human want, is called
Question # 12
Marginal utility at the point of satiety is
Question # 13
Utility can not be measurable who has said
Question # 14
First and basic law of consumption is
Question # 15
Utility is related with
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 | Who said that utility cannot be measured |
A. Adam smith
B. Marshall
C. Keynes
D. Hicks
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| 2 | One of the following is non economic want: |
A. Car
B. Bike
C. Fan
D. Self respect
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| 3 | Consumer's behaviour means: |
A. Selection
B. Purchase
C. Sale
D. Both (a) and (b)
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| 4 | 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
|
| 5 | Objective of a rational consumer is |
A. To save maximum amount from his limited income
B. To buy goods at minimum price
C. Best choice from existing economic goods
D. To attain maximum utility from the spent amount
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| 6 | Feature of a commodity to satisfy human want, is called |
A. Value
B. Usefulness
C. Utility
D. Wealth
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| 7 | Total utility always: |
A. Decreases
B. 1st increases then decreases
C. Maximum
D. Negative
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| 8 | Utility of a commodity is zero, when |
A. Want is satisfied upto a certain extent
B. Want is fully satisfied
C. Utility is positive
D. Want is not satisfied
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| 9 | Utility attained by the consumption of first unit of a commodity is called |
A. Positive utility
B. Negative utility
C. Initial utility
D. Zero utility
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| 10 | Which law provides the base of law of demand |
A. Law of supply
B. Law of diminishing marginal utility
C. Law of equi marginal utility
D. Law of decreasing return
|
Test Questions