×

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
ic

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 price of non-economic want is always:
  • A. Very high
  • B. Very Low
  • C. Negative
  • D. Zero
2 Total utility decreases when marginal utility is
  • A. Positive
  • B. Negative
  • C. Zero
  • D. Maximum
3 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
4 Consumer's behaviour means:
  • A. Selection
  • B. Purchase
  • C. Sale
  • D. Both (a) and (b)
5 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
6 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
7 To determine consumer's equilibrium, professor Marshall got help from the law
  • A. Law of diminishing marginal utility
  • B. Law of equi marginal utility
  • C. Law of demand
  • D. Law of constant return
8 Utility attained by consuming an additional or last unit of a commodity
  • A. Positive utility
  • B. Negative utility
  • C. Zero utility
  • D. Marginal utility
9 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
10 Total utility increases when marginal utility is
  • A. Positive
  • B. Negative
  • C. Zero
  • D. Minimum

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

A

Abeer

Lahore07 - Feb - 2024

13/15
02 Mins 08 Sec
A

Ahmad Wazir Khan

Lahore19 - Apr - 2024

13/15
03 Mins 25 Sec
A

Ahmad Wazir Khan

Lahore19 - Apr - 2024

13/15
03 Mins 52 Sec
A

Ahmad Wazir Khan

Lahore19 - Apr - 2024

13/15
04 Mins 41 Sec
K

Komal Kh.

Lahore15 - Feb - 2024

12/15
27 Mins 19 Sec
A

Abeer

Lahore07 - Feb - 2024

10/15
02 Mins 23 Sec
S

Shah Zaib Qamar

Lahore29 - Mar - 2024

10/15
05 Mins 02 Sec
K

Kashif Rafeeq

Lahore05 - Mar - 2024

9/15
04 Mins 06 Sec
H

Hanzala Javed

Lahore16 - Mar - 2024

8/15
04 Mins

Share your comments questions here
Sort By:
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

Fill the form. Our admission consultants will call you with admission options.

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer