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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
On which of the following law of diminishing marginal utility is applicable
Question # 2
The decreasing part of TU curve shows:
Question # 3
Utility attained by the consumption of first unit of a commodity is called
Question # 4
Feature of a commodity to satisfy human want, is called
Question # 5
Guides finance minister for levying tax on the income of the people
Question # 6
The term marginal in economics means:
Question # 7
When total utility is increasing marginal utility is
Question # 8
Concept of law of diminishing marginal utility was presented by professor
Question # 9
TU is maximum where MU of all goods is:
Question # 10
When marginal utility is positive, total utility
Question # 11
Marginal utility at the point of satiety is
Question # 12
Economist who presented the first law of consumption
Question # 13
The name of first law of consumption is
Question # 14
Objective of a rational consumer is
Question # 15
When marginal utility is zero, than total utility 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 -
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L Lily 24 - Oct - 2025 02 Min 25 Sec 14/15 -
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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 | Capital goods are those which can satisfy human wants: |
A. Directly
B. Indirectly
C. Proportionate
D. None of these
|
| 2 | Concept of law of diminishing marginal utility was presented by professor |
A. Marshall
B. Robbins
C. Keynes
D. Pigou
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| 3 | Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of decreasing return
|
| 4 | The decreasing part of TU curve shows: |
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
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| 5 | 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
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| 6 | 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
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| 7 | 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
|
| 8 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
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| 9 | Slope of marginal utility curve is |
A. Positive
B. Negative
C. Vertical
D. Horizontal
|
| 10 | After achieving point of Satiation the total utility starts |
A. Rising
B. Declining
C. Remains constant
D. None of these
|
Test Questions
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