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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
Which economist did present, cardinal theory of utility
Question # 2
One of the following is not assumption of law of diminishing marginal utility
Question # 3
Curve of law of diminishing marginal utility
Question # 4
First law of consumption is known as:
Question # 5
TU is maximum where MU of all goods is:
Question # 6
When marginal utility is negative, then total utility
Question # 7
First and basic law of consumption is
Question # 8
Marginal utility at the point of satiety is
Question # 9
According to law of diminishing marginal utility, marginal utility of a commodity
Question # 10
One of the following is non economic want:
Question # 11
Utility attained by consuming an additional or last unit of a commodity
Question # 12
On which of the following law of diminishing marginal utility is applicable
Question # 13
Utility of the last unit of a commodity consumed is called
Question # 14
The concept of utility is:
Question # 15
Which law is applied when marginal utilities of all the purchased goods become equal to each other
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 -
A Ali Imtiaz 16 - Jan - 2025 01 Min 27 Sec 14/15 -
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 -
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 | Feature of a commodity to satisfy human want, is called |
A. Value
B. Usefulness
C. Utility
D. Wealth
|
| 2 | Which economist did present, cardinal theory of utility |
A. Marshall
B. Karoos
C. Cannon
D. J.B. Say
|
| 3 | Slope of marginal utility curve is |
A. Positive
B. Negative
C. Vertical
D. Horizontal
|
| 4 | Marginal utility at the point of satiety is |
A. Zero
B. Positive
C. Negative
D. Initial
|
| 5 | Total utility always: |
A. Decreases
B. 1st increases then decreases
C. Maximum
D. Negative
|
| 6 | Objective of a rational consumer is |
A. To save maximum amount from his limited income
B. To buy goods at minimum price
C. Best choice from existing economic goods
D. To attain maximum utility from the spent amount
|
| 7 | 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
|
| 8 | 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
|
| 9 | Marginal utility always: |
A. Decreases
B. Increases
C. Zero
D. Negative
|
| 10 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
|
Test Questions