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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
Marginal utility curve moves
Question # 3
Marginal utility at the point of satiety is
Question # 4
When no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 5
Utility attained by the consumption of first unit of a commodity is called
Question # 6
When marginal utility is positive, total utility:
Question # 7
Cardinal utility approach was presented by:
Question # 8
First and basic law of consumption is
Question # 9
After achieving point of Satiation the total utility starts
Question # 10
Utility of the last unit of a commodity consumed is called
Question # 11
Marginal utility always:
Question # 12
Initial utility of a product is:
Question # 13
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity
Question # 14
TU is maximum where MU of all goods is:
Question # 15
Law of diminishing marginal utility provides basis for:
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.
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A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Who said that utility cannot be measured |
A. Adam smith
B. Marshall
C. Keynes
D. Hicks
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| 2 | Curve of law of diminishing marginal utility |
A. Moves from left to right downward
B. Moves from left to right upward
C. Firstly it has a tendency to rise up and after a certain limit it starts falling
D. It is parallel to ox-axis
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| 3 | Which of the following stated that utility is measurable |
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
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| 4 | Which economist stated that utility is not measurable |
A. Adam Smith
B. Marshall
C. Cannon
D. Hicks
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| 5 | Marginal utility always: |
A. Decreases
B. Increases
C. Zero
D. Negative
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| 6 | 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)
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| 7 | Which economist did present, cardinal theory of utility |
A. Marshall
B. Karoos
C. Cannon
D. J.B. Say
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| 8 | 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
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| 9 | Guides finance minister for levying tax on the income of the people |
A. Law of demand
B. Law of equi marginal utility
C. Law of diminishing marginal utility
D. Law of supply
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| 10 | First and basic law of consumption is |
A. Law of demand
B. Law of decreasing return
C. Law of supply
D. Law of diminishing marginal utility
|
Test Questions