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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
Utility attained by the consumption of first unit of a commodity is called
Question # 2
Who said that utility cannot be measured
Question # 3
Marginal utility curve moves
Question # 4
Utility can not be measurable who has said
Question # 5
Which law provides the base of law of demand
Question # 6
On which of the following law of diminishing marginal utility is applicable
Question # 7
Consumer goods are those goods which the consumers consume
Question # 8
Total utility increases when marginal utility is
Question # 9
One of the following is not assumption of law of diminishing marginal utility
Question # 10
When marginal utility is zero, then total utility is
Question # 11
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 12
After achieving point of Satiation the total utility starts
Question # 13
Other name of law of equi marginal utility is
Question # 14
Initial utility is ______ individual utilities of all the units
Question # 15
Feature of a commodity to satisfy human want, is called
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 -
A Ahmad Wazir Khan 19 - Apr - 2024 03 Min 25 Sec 13/15 -
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 | 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
|
| 2 | Which of the following stated that utility is measurable |
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
|
| 3 | Law of diminishing marginal utility provides basis for: |
A. Law of demand
B. Law of equi marginal utility
C. Law of supply
D. Both (a) and (b)
|
| 4 | Who said that utility cannot be measured |
A. Adam smith
B. Marshall
C. Keynes
D. Hicks
|
| 5 | 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
|
| 6 | In mathematics, symbol for utility is used |
A. U
B. M
C. X
D. Y
|
| 7 | Capital goods are those which can satisfy human wants: |
A. Directly
B. Indirectly
C. Proportionate
D. None of these
|
| 8 | The term marginal in economics means: |
A. An additional unit
B. Change in unit
C. Last unit
D. All of them
|
| 9 | 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
|
| 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
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