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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
The concept of utility is:
Question # 2
According to which economist, utility is measureable
Question # 3
The term marginal in economics means:
Question # 4
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 5
Economist who presented the first law of consumption
Question # 6
Objective of a rational consumer is
Question # 7
Consumer goods are those goods which the consumers consume
Question # 8
Utility can not be measurable who has said
Question # 9
Other name of law of equi marginal utility is
Question # 10
Utility of a commodity is zero, when
Question # 11
Capital goods are those which can satisfy human wants:
Question # 12
After achieving point of Satiation the total utility starts
Question # 13
Who said that utility cannot be measured
Question # 14
Utility attained by the consumption of first unit of a commodity is called
Question # 15
Utility of the last unit of a commodity consumed is called
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 -
A Abdullah Aslam 06 - Aug - 2024 02 Min 36 Sec 13/15 -
K Known Person 13 - Apr - 2026 02 Min 46 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 -
M Minahil Riaz 30 - Mar - 2026 04 Min 20 Sec 13/15 -
A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15 -
A Arzoo Qaiser 30 - Jan - 2026 02 Min 43 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 2 | 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
|
| 3 | Utility attained by the consumption of first unit of a commodity is called |
A. Positive utility
B. Negative utility
C. Initial utility
D. Zero utility
|
| 4 | Which economist stated that utility is not measurable |
A. Adam Smith
B. Marshall
C. Cannon
D. Hicks
|
| 5 | Which law provides the base of law of demand |
A. Law of supply
B. Law of diminishing marginal utility
C. Law of equi marginal utility
D. Law of decreasing return
|
| 6 | Marginal utility curve moves |
A. From left to right downward
B. From left to right upward
C. Parallel to ox axis
D. Parallel to oy axis
|
| 7 | Who said that utility cannot be measured |
A. Adam smith
B. Marshall
C. Keynes
D. Hicks
|
| 8 | When total utility is decreasing, marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 9 | Which of the following stated that utility is measurable |
A. Marshall
B. Adam Smith
C. Robbins
D. Keynes
|
| 10 | The decreasing part of TU curve shows: |
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
|
Test Questions