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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 curve moves
Question # 2
The term marginal in economics means:
Question # 3
Which economist did present, cardinal theory of utility
Question # 4
Total utility increases when marginal utility is
Question # 5
According to which economist, utility is measureable
Question # 6
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity
Question # 7
Cardinal utility approach was presented by:
Question # 8
Economist who presented the first law of consumption
Question # 9
The decreasing part of TU curve shows:
Question # 10
When marginal utility is positive, total utility:
Question # 11
Consumer goods are those goods which the consumers consume
Question # 12
Human wants are:
Question # 13
Initial utility of a product is:
Question # 14
One of the following is not assumption of law of diminishing marginal utility
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.
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 -
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 -
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A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
K Known Person 13 - Apr - 2026 02 Min 46 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 | TU is maximum where MU of all goods is: |
A. Minimum
B. Maximum
C. Negative
D. Equal
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| 2 | Total utility increases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
| 3 | Utility can not be measurable who has said |
A. Marshall
B. Hicks
C. Pigue
D. Adam Smith
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| 4 | Utility is related with |
A. Usefulness
B. Useless
C. Necessities
D. Desire
|
| 5 | When marginal utility is negative, then total utility |
A. Decreases
B. Increases
C. Does not change
D. Becomes negative
|
| 6 | 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
|
| 7 | Utility attained by consuming an additional or last unit of a commodity |
A. Positive utility
B. Negative utility
C. Zero utility
D. Marginal utility
|
| 8 | Concept of law of diminishing marginal utility was presented by professor |
A. Marshall
B. Robbins
C. Keynes
D. Pigou
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| 9 | 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)
|
| 10 | Utility of the last unit of a commodity consumed is called |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
Test Questions