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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
Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called
Question # 2
On which of the following law of diminishing marginal utility is applicable
Question # 3
Total utility increases when marginal utility is
Question # 4
When marginal utility is zero, then total utility is
Question # 5
First and basic law of consumption is
Question # 6
On which of the following law of diminishing marginal utility is applicable
Question # 7
TU is maximum where MU of all goods is:
Question # 8
The concept of utility is:
Question # 9
Capital goods are those which can satisfy human wants:
Question # 10
Total utility decreases when marginal utility is
Question # 11
Human wants are:
Question # 12
Law of equi-marginal utility is also known as:
Question # 13
Initial utility of a product is:
Question # 14
Utility attained by the consumption of first unit of a commodity is called
Question # 15
Which economist stated that utility is not measurable
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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ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | When total utility is decreasing, marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 3 | Utility attained by consuming an additional or last unit of a commodity |
A. Positive utility
B. Negative utility
C. Zero utility
D. Marginal utility
|
| 4 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
|
| 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 | Which law is applied when marginal utilities of all the purchased goods become equal to each other |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of increasing return
|
| 7 | The price of non-economic want is always: |
A. Very high
B. Very Low
C. Negative
D. Zero
|
| 8 | Marginal utility at the point of satiety is |
A. Zero
B. Positive
C. Negative
D. Initial
|
| 9 | Economist who presented the first law of consumption |
A. Marshall
B. Adam smith
C. Robbins
D. Pigou
|
| 10 | 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
|
Test Questions
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