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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
Feature of a commodity to satisfy human want, is called
Question # 2
Cardinal utility approach was presented by:
Question # 3
Utility of the last unit of a commodity consumed is called
Question # 4
On which of the following law of diminishing marginal utility is applicable
Question # 5
One of the following is non economic want:
Question # 6
Consumer's behaviour means:
Question # 7
The decreasing part of TU curve shows:
Question # 8
Who said that utility cannot be measured
Question # 9
In mathematics, symbol for utility is used
Question # 10
Total utility is maximum when marginal utility is
Question # 11
Total utility increases when marginal utility is
Question # 12
Concept of law of diminishing marginal utility was presented by professor
Question # 13
Curve of law of diminishing marginal utility
Question # 14
One of the following is not assumption of law of diminishing marginal utility
Question # 15
Which economist did present, cardinal theory of utility
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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ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When marginal utility is negative, total utility: |
A. Decreases
B. Increases
C. Does not change
D. Negative
|
| 2 | The decreasing part of TU curve shows: |
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
|
| 3 | According to law of diminishing marginal utility, marginal utility of a commodity |
A. Increases
B. Decreases
C. Remains constant
D. Become negative
|
| 4 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 5 | Feature of a commodity to satisfy human want, is called |
A. Value
B. Usefulness
C. Utility
D. Wealth
|
| 6 | The term marginal in economics means: |
A. An additional unit
B. Change in unit
C. Last unit
D. All of them
|
| 7 | Consumer's behaviour means: |
A. Selection
B. Purchase
C. Sale
D. Both (a) and (b)
|
| 8 | Utility attained by the consumption of first unit of a commodity is called |
A. Positive utility
B. Negative utility
C. Initial utility
D. Zero utility
|
| 9 | Which of the following stated that utility is measurable |
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
|
| 10 | When marginal utility is zero, than total utility is: |
A. Minimum
B. Positive
C. Maximum
D. Zero
|
Test Questions