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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
When marginal utility is negative, then total utility
Question # 2
Which of the following stated that utility is measurable
Question # 3
Law of equi-marginal utility is also known as:
Question # 4
One of the following is not assumption of law of diminishing marginal utility
Question # 5
Utility attained by consuming an additional or last unit of a commodity
Question # 6
In mathematics, symbol for utility is used
Question # 7
The decreasing part of TU curve shows:
Question # 8
Total utility always:
Question # 9
Guides finance minister for levying tax on the income of the people
Question # 10
Who said that utility cannot be measured
Question # 11
Marginal utility always:
Question # 12
According to law of diminishing marginal utility, Utility of every new (Additional) unit of commodity
Question # 13
Concept of law of diminishing marginal utility was presented by professor
Question # 14
After achieving point of Satiation the total utility starts
Question # 15
One of the following is non economic want:
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 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
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| 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
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| 3 | According to law of diminishing marginal utility, marginal utility of a commodity |
A. Increases
B. Decreases
C. Remains constant
D. Become negative
|
| 4 | The power of a good or service to satisfy a human want is called: |
A. Value
B. Price
C. Utility
D. All of them
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| 5 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 6 | After achieving point of Satiation the total utility starts |
A. Rising
B. Declining
C. Remains constant
D. None of these
|
| 7 | Capital goods are those which can satisfy human wants: |
A. Directly
B. Indirectly
C. Proportionate
D. None of these
|
| 8 | Human wants are: |
A. Limited
B. Unlimited
C. Re-appear
D. Both (b) and (c)
|
| 9 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
|
| 10 | Initial utility is ______ individual utilities of all the units |
A. More than
B. Less than
C. Equal to
D. None of these
|
Test Questions
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