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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 no satisfaction is attained by the consumption of a commodity, its marginal utility is
Question # 2
One of the following is not assumption of law of diminishing marginal utility
Question # 3
Law of equi-marginal utility is also known as:
Question # 4
The price of non-economic want is always:
Question # 5
When marginal utility is negative, then total utility
Question # 6
Initial utility of a product is:
Question # 7
When total utility is decreasing, marginal utility is
Question # 8
Total utility always:
Question # 9
Marginal utility at the point of satiety is
Question # 10
Utility of the last unit of a commodity consumed is called
Question # 11
According to law of diminishing marginal utility, marginal utility of a commodity
Question # 12
When marginal utility is positive, total utility:
Question # 13
Utility attained by all the units of a commodity consumed
Question # 14
When marginal utility is zero, than total utility is:
Question # 15
When marginal utility is negative, total utility:
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 | Capital goods are those which can satisfy human wants: |
A. Directly
B. Indirectly
C. Proportionate
D. None of these
|
| 2 | The decreasing part of TU curve shows: |
A. MU is zero
B. MU is negative
C. MU is increasing
D. MU is decreasing
|
| 3 | Other things remaining the same, marginal utility of a commodity diminishes with its continuous consumption. This law is called |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of decreasing return
|
| 4 | The concept of utility is: |
A. Subjective
B. Moral
C. Objective
D. Neutral
|
| 5 | Marginal utility at the point of satiety is |
A. Zero
B. Positive
C. Negative
D. Initial
|
| 6 | Consumer's behaviour means: |
A. Selection
B. Purchase
C. Sale
D. Both (a) and (b)
|
| 7 | Want of a commodity is satisfied, when its marginal utility is |
A. Positive
B. Zero
C. Negative
D. Minimum
|
| 8 | 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
|
| 9 | 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
|
| 10 | To determine consumer's equilibrium, professor Marshall got help from the law |
A. Law of diminishing marginal utility
B. Law of equi marginal utility
C. Law of demand
D. Law of constant return
|
Test Questions