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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
Total utility increases when marginal utility is
Question # 2
Utility is related with
Question # 3
Economist who presented the first law of consumption
Question # 4
Slope of marginal utility curve is
Question # 5
To determine consumer's equilibrium, professor Marshall got help from the law
Question # 6
When total utility is decreasing, marginal utility is
Question # 7
Utility attained by consuming an additional or last unit of a commodity
Question # 8
Which economist did present, cardinal theory of utility
Question # 9
Objective of a rational consumer is
Question # 10
Total utility always:
Question # 11
Initial utility of a product is:
Question # 12
The decreasing part of TU curve shows:
Question # 13
When marginal utility is negative, total utility:
Question # 14
The concept of utility is:
Question # 15
Utility attained by the consumption of first unit of a commodity 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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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 -
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U umer 06 - Aug - 2024 02 Min 39 Sec 14/15 -
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ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Human wants are: |
A. Limited
B. Unlimited
C. Re-appear
D. Both (b) and (c)
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| 2 | Initial utility is ______ individual utilities of all the units |
A. More than
B. Less than
C. Equal to
D. None of these
|
| 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
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| 4 | The power of a good or service to satisfy a human want is called: |
A. Value
B. Price
C. Utility
D. All of them
|
| 5 | 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
|
| 6 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
|
| 7 | When marginal utility is positive, total utility |
A. Goes on decreasing
B. Goes on increasing
C. Does not change
D. Is zero
|
| 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 | According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity |
A. Increases
B. Decreases
C. Remains constant
D. None of these
|
| 10 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
Test Questions
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