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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 decreases when marginal utility is
Question # 2
Which economist did present, cardinal theory of utility
Question # 3
Utility of a commodity is zero, when
Question # 4
Which economist stated that utility is not measurable
Question # 5
Who said that utility cannot be measured
Question # 6
First and basic law of consumption is
Question # 7
Consumer's behaviour means:
Question # 8
Initial utility is ______ individual utilities of all the units
Question # 9
Capital goods are those which can satisfy human wants:
Question # 10
When marginal utility is zero, then total utility is
Question # 11
On which of the following law of diminishing marginal utility is applicable
Question # 12
Other name of law of equi marginal utility is
Question # 13
The price of non-economic want is always:
Question # 14
Law of equi-marginal utility is also known as:
Question # 15
The name of first law of consumption is
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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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 -
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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 -
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A Abdullah Aslam 06 - Aug - 2024 02 Min 36 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 no satisfaction is attained by the consumption of a commodity, its marginal utility is |
A. Zero
B. Positive
C. Negative
D. Minimum
|
| 2 | Initial utility is ______ individual utilities of all the units |
A. More than
B. Less than
C. Equal to
D. None of these
|
| 3 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
|
| 4 | Utility attained by all the units of a commodity consumed |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 5 | Utility can not be measurable who has said |
A. Marshall
B. Hicks
C. Pigue
D. Adam Smith
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| 6 | Consumer's equilibrium takes place at that point where: |
A. MU is negative
B. MU is positve
C. TU is maximum
D. MU is maximum
|
| 7 | 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
|
| 8 | Consumer goods are those goods which the consumers consume |
A. Directly
B. Indirectly
C. Sometimes
D. Never
|
| 9 | One of the following is non economic want: |
A. Car
B. Bike
C. Fan
D. Self respect
|
| 10 | Slope of marginal utility curve is |
A. Positive
B. Negative
C. Vertical
D. Horizontal
|
Test Questions
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