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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
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Question # 1
Utility attained by the consumption of first unit of a commodity is called
Question # 2
Utility is related with
Question # 3
When marginal utility is negative, total utility:
Question # 4
Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called
Question # 5
Law of diminishing marginal utility provides basis for:
Question # 6
When marginal utility is positive, total utility
Question # 7
Feature of a commodity to satisfy human want, is called
Question # 8
Total utility increases when marginal utility is
Question # 9
Initial utility is ______ individual utilities of all the units
Question # 10
The concept of utility is:
Question # 11
Marginal utility curve moves
Question # 12
Economist who presented the first law of consumption
Question # 13
First and basic law of consumption is
Question # 14
Initial utility of a product is:
Question # 15
When no satisfaction is attained by the consumption of a commodity, its marginal 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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U Unknown 01 - Jul - 2024 00 Min 09 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 -
A Ali Imtiaz 16 - Jan - 2025 01 Min 27 Sec 14/15 -
Z Zafar Ali 22 - May - 2024 01 Min 45 Sec 14/15 -
L Lily 24 - Oct - 2025 02 Min 25 Sec 14/15 -
U Usva Azam 24 - Nov - 2024 02 Min 27 Sec 14/15 -
U umer 06 - Aug - 2024 02 Min 39 Sec 14/15 -
F Faizan Bakhsh 06 - Dec - 2023 01 Min 07 Sec 13/15 -
A Abeer 07 - Feb - 2024 02 Min 08 Sec 13/15 -
A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
A Ahmad Wazir Khan 19 - Apr - 2024 03 Min 25 Sec 13/15 -
B Bilal zafar 07 - Jun - 2024 03 Min 58 Sec 13/15 -
A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15 -
S Sania Butt 29 - May - 2024 04 Min 02 Sec 12/15
ICom Part 1 Class Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | In mathematics, symbol for utility is used |
A. U
B. M
C. X
D. Y
|
| 2 | Initial utility is ______ individual utilities of all the units |
A. More than
B. Less than
C. Equal to
D. None of these
|
| 3 | When marginal utility is positive, total utility: |
A. Decreases
B. Increases
C. Zero
D. All of them
|
| 4 | Consumer goods are those goods which the consumers consume |
A. Directly
B. Indirectly
C. Sometimes
D. Never
|
| 5 | 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
|
| 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 | Marginal utility always: |
A. Decreases
B. Increases
C. Zero
D. Negative
|
| 8 | 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
|
| 9 | Total utility decreases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Maximum
|
| 10 | One of the following is not assumption of law of diminishing marginal utility |
A. Same nature of the commodity
B. Consumption of the commodity with intervals
C. Suitable quantity of the commodity
D. No change in consumers mental condition
|
Test Questions
