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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
Marginal utility always:
Question # 2
Which law provides the base of law of demand
Question # 3
Initial utility of a product is:
Question # 4
The concept of utility is:
Question # 5
First and basic law of consumption is
Question # 6
Economist who presented the first law of consumption
Question # 7
On which of the following law of diminishing marginal utility is applicable
Question # 8
When no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 9
Guides finance minister for levying tax on the income of the people
Question # 10
Utility attained by all the units of a commodity consumed
Question # 11
Utility can not be measurable who has said
Question # 12
When marginal utility is zero, than total utility is:
Question # 13
The term marginal in economics means:
Question # 14
Consumer's equilibrium takes place at that point where:
Question # 15
Initial utility is ______ individual utilities of all the units
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 -
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 -
U Usva Azam 24 - Nov - 2024 02 Min 27 Sec 14/15 -
U umer 06 - Aug - 2024 02 Min 39 Sec 14/15 -
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 | Which economist stated that utility is not measurable |
A. Adam Smith
B. Marshall
C. Cannon
D. Hicks
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| 2 | 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
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| 3 | Concept of law of diminishing marginal utility was presented by professor |
A. Marshall
B. Robbins
C. Keynes
D. Pigou
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| 4 | Economist who presented the first law of consumption |
A. Marshall
B. Adam smith
C. Robbins
D. Pigou
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| 5 | The term marginal in economics means: |
A. An additional unit
B. Change in unit
C. Last unit
D. All of them
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| 6 | Feature of a commodity to satisfy human want, is called |
A. Value
B. Usefulness
C. Utility
D. Wealth
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| 7 | TU is maximum where MU of all goods is: |
A. Minimum
B. Maximum
C. Negative
D. Equal
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| 8 | When no satisfaction is attained by the consumption of a commodity, its marginal utility is |
A. Zero
B. Positive
C. Negative
D. Minimum
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| 9 | Marginal utility always: |
A. Decreases
B. Increases
C. Zero
D. Negative
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| 10 | 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
|
Test Questions