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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 total utility is decreasing, marginal utility is
Question # 2
Objective of a rational consumer is
Question # 3
Consumer's behaviour means:
Question # 4
When marginal utility is negative, then total utility
Question # 5
Total utility always:
Question # 6
Slope of marginal utility curve is
Question # 7
One of the following is not assumption of law of diminishing marginal utility
Question # 8
Which economist did present, cardinal theory of utility
Question # 9
The power of a good or service to satisfy a human want is called:
Question # 10
Total utility increases when marginal utility is
Question # 11
The name of first law of consumption is
Question # 12
Cardinal utility approach was presented by:
Question # 13
Curve of law of diminishing marginal utility
Question # 14
In mathematics, symbol for utility is used
Question # 15
Consumer's equilibrium takes place at that point where:
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 -
S Sohaib Rana 26 - Jun - 2026 00 Min 57 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 -
M Musa Aziz 08 - May - 2026 01 Min 46 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 -
A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
K Known Person 13 - Apr - 2026 02 Min 46 Sec 13/15 -
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B Bilal zafar 07 - Jun - 2024 03 Min 58 Sec 13/15 -
M Minahil Riaz 30 - Mar - 2026 04 Min 20 Sec 13/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When marginal utility is positive, total utility |
A. Goes on decreasing
B. Goes on increasing
C. Does not change
D. Is zero
|
| 2 | In mathematics, symbol for utility is used |
A. U
B. M
C. X
D. Y
|
| 3 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 4 | When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
A. Zero
B. Positive
C. Negative
D. Minimum
|
| 5 | Which economist stated that utility is not measurable |
A. Adam Smith
B. Marshall
C. Cannon
D. Hicks
|
| 6 | Total utility is maximum when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
| 7 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
|
| 8 | The decreasing part of TU curve shows: |
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
|
| 9 | Concept of law of diminishing marginal utility was presented by professor |
A. Marshall
B. Robbins
C. Keynes
D. Pigou
|
| 10 | 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
|
Test Questions