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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
When no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 2
Which economist did present, cardinal theory of utility
Question # 3
Total utility increases when marginal utility is
Question # 4
Cardinal utility approach was presented by:
Question # 5
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 6
The price of non-economic want is always:
Question # 7
Feature of a commodity to satisfy human want, is called
Question # 8
Utility of the last unit of a commodity consumed is called
Question # 9
Total utility always:
Question # 10
Capital goods are those which can satisfy human wants:
Question # 11
The term marginal in economics means:
Question # 12
When total utility is increasing marginal utility is
Question # 13
Utility attained by all the units of a commodity consumed
Question # 14
Consumer's equilibrium takes place at that point where:
Question # 15
In mathematics, symbol for utility is used
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 | 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
|
| 2 | Concept of law of diminishing marginal utility was presented by professor |
A. Marshall
B. Robbins
C. Keynes
D. Pigou
|
| 3 | Total utility always: |
A. Decreases
B. 1st increases then decreases
C. Maximum
D. Negative
|
| 4 | 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
|
| 5 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 6 | When total utility is decreasing, marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 7 | The name of first law of consumption is |
A. Law of demand
B. Law of diminishing marginal utility
C. Law of equi marginal utility
D. Law of supply
|
| 8 | On which of the following law of diminishing marginal utility is applicable |
A. Money and wealth
B. Historical articles
C. Normal goods of need
D. Narcotics
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| 9 | Marginal utility curve moves |
A. From left to right downward
B. From left to right upward
C. Parallel to ox axis
D. Parallel to oy axis
|
| 10 | Law of equi-marginal utility is also known as: |
A. Total utility maximizing law
B. Law of substitution
C. Law of indifference
D. All of them
|
Test Questions