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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
The term marginal in economics means:
Question # 3
On which of the following law of diminishing marginal utility is applicable
Question # 4
When marginal utility is positive, total utility
Question # 5
Utility can not be measurable who has said
Question # 6
Who said that utility cannot be measured
Question # 7
Utility of a commodity is zero, when
Question # 8
Consumer's equilibrium takes place at that point where:
Question # 9
One of the following is non economic want:
Question # 10
Which of the following stated that utility is measurable
Question # 11
First law of consumption is known as:
Question # 12
Total utility always:
Question # 13
When marginal utility is negative, then total utility
Question # 14
Utility is related with
Question # 15
Which law is applied when marginal utilities of all the purchased goods become equal to each other
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 -
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 -
A Ahmad Wazir Khan 19 - Apr - 2024 03 Min 25 Sec 13/15 -
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M Minahil Riaz 30 - Mar - 2026 04 Min 20 Sec 13/15 -
A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Curve of law of diminishing marginal utility |
A. Moves from left to right downward
B. Moves from left to right upward
C. Firstly it has a tendency to rise up and after a certain limit it starts falling
D. It is parallel to ox-axis
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| 2 | On which of the following law of diminishing marginal utility is applicable |
A. Money and wealth
B. Diamonds and jewels
C. Goods of fashion
D. Necessities of life
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| 3 | 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
|
| 4 | In mathematics, symbol for utility is used |
A. U
B. M
C. X
D. Y
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| 5 | When marginal utility is negative, then total utility |
A. Decreases
B. Increases
C. Does not change
D. Becomes negative
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| 6 | One of the following is not assumption of law of diminishing marginal utility |
A. Same nature of the commodity
B. Consumption of the commodity with intervals
C. Suitable quantity of the commodity
D. No change in consumers mental condition
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| 7 | Other name of law of equi marginal utility is |
A. Law of diminishing marginal utility
B. Law of demand
C. Law of constant return
D. Law of indifference
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| 8 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
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| 9 | Initial utility of a product is: |
A. Highest
B. Lowest
C. Constant
D. All of these
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| 10 | 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
|
Test Questions
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