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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
To determine consumer's equilibrium, professor Marshall got help from the law
Question # 2
In mathematics, symbol for utility is used
Question # 3
First law of consumption is known as:
Question # 4
Utility of a commodity is zero, when
Question # 5
When marginal utility is positive, total utility
Question # 6
Marginal utility curve moves
Question # 7
Guides finance minister for levying tax on the income of the people
Question # 8
Capital goods are those which can satisfy human wants:
Question # 9
When marginal utility is negative, total utility:
Question # 10
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 11
Human wants are:
Question # 12
Total utility always:
Question # 13
Feature of a commodity to satisfy human want, is called
Question # 14
Utility is related with
Question # 15
The concept of utility is:
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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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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M Musa Aziz 08 - May - 2026 01 Min 46 Sec 14/15 -
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A Abeeha aslam 07 - Jun - 2024 02 Min 08 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Other name of law of equi marginal utility is |
A. Law of diminishing marginal utility
B. Law of demand
C. Law of constant return
D. Law of indifference
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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 | Human wants are: |
A. Limited
B. Unlimited
C. Re-appear
D. Both (b) and (c)
|
| 5 | Marginal utility always: |
A. Decreases
B. Increases
C. Zero
D. Negative
|
| 6 | Total utility increases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
| 7 | On which of the following law of diminishing marginal utility is applicable |
A. Money and wealth
B. Historical articles
C. Normal goods of need
D. Narcotics
|
| 8 | Utility attained by all the units of a commodity consumed |
A. Positive utility
B. Negative utility
C. Total utility
D. Marginal utility
|
| 9 | Want of a commodity is satisfied, when its marginal utility is |
A. Positive
B. Zero
C. Negative
D. Minimum
|
| 10 | Law of equi-marginal utility is also known as: |
A. Total utility maximizing law
B. Law of substitution
C. Law of indifference
D. All of them
|
Test Questions
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