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.

First Year Principles of Economics Chapter 2 Online MCQ Test for 1st Year Principles of Economics Chapter 2 (Consumer's Demand Theory)

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
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First Year Principles of Economics Chapter 2 Online MCQ Test for 1st Year Principles of Economics Chapter 2 (Consumer's Demand Theory)

Sr. # Questions Answers Choice
1 The power of a good or service to satisfy a human want is called:
  • A. Value
  • B. Price
  • C. Utility
  • D. All of them
2 When marginal utility is positive, total utility:
  • A. Decreases
  • B. Increases
  • C. Zero
  • D. All of them
3 The term marginal in economics means:
  • A. An additional unit
  • B. Change in unit
  • C. Last unit
  • D. All of them
4 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
5 After achieving point of Satiation the total utility starts
  • A. Rising
  • B. Declining
  • C. Remains constant
  • D. None of these
6 Utility is related with
  • A. Usefulness
  • B. Useless
  • C. Necessities
  • D. Desire
7 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
8 TU is maximum where MU of all goods is:
  • A. Minimum
  • B. Maximum
  • C. Negative
  • D. Equal
9 When total utility is decreasing, marginal utility is
  • A. Zero
  • B. Positive
  • C. Negative
  • D. Maximum
10 Total utility decreases when marginal utility is
  • A. Positive
  • B. Negative
  • C. Zero
  • D. Maximum

Top Scorers of Principles of Economics Icom Part 1 English Medium Chapter 2 Online Test

A

Ali Imtiaz

Lahore16 - Jan - 2025

14/15
01 Mins 27 Sec
U

Usva Azam

Lahore24 - Nov - 2024

14/15
02 Mins 27 Sec
A

Arosha Asif

Lahore06 - Feb - 2025

13/15
02 Mins 27 Sec
A

Arosha Asif

Lahore06 - Feb - 2025

11/15
02 Mins 27 Sec
A

Arosha Asif

Lahore06 - Feb - 2025

11/15
02 Mins 44 Sec
A

Ali Imtiaz

Lahore16 - Jan - 2025

10/15
01 Mins 22 Sec
M

Muhammad Hasnain

Lahore08 - Dec - 2024

9/15
03 Mins 58 Sec

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