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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
Utility can not be measurable who has said
Question # 2
Slope of marginal utility curve is
Question # 3
After achieving point of Satiation the total utility starts
Question # 4
Which economist did present, cardinal theory of utility
Question # 5
Law of equi-marginal utility is also known as:
Question # 6
Initial utility is ______ individual utilities of all the units
Question # 7
Capital goods are those which can satisfy human wants:
Question # 8
One of the following is non economic want:
Question # 9
Utility attained by all the units of a commodity consumed
Question # 10
When marginal utility is positive, total utility:
Question # 11
Concept of law of diminishing marginal utility was presented by professor
Question # 12
The price of non-economic want is always:
Question # 13
Human wants are:
Question # 14
To determine consumer's equilibrium, professor Marshall got help from the law
Question # 15
When marginal utility is zero, than total 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 -
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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
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| 2 | Total utility decreases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Maximum
|
| 3 | According to which economist, utility is measureable |
A. Marshall
B. Adam smith
C. Robbins
D. Keynes
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| 4 | When marginal utility is zero, than total utility is: |
A. Minimum
B. Positive
C. Maximum
D. Zero
|
| 5 | Law of diminishing marginal utility provides basis for: |
A. Law of demand
B. Law of equi marginal utility
C. Law of supply
D. Both (a) and (b)
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| 6 | 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
|
| 7 | Consumer's equilibrium takes place at that point where: |
A. MU is negative
B. MU is positve
C. TU is maximum
D. MU is maximum
|
| 8 | When total utility is increasing marginal utility is |
A. Zero
B. Positive
C. Negative
D. Maximum
|
| 9 | When marginal utility is positive, total utility: |
A. Decreases
B. Increases
C. Zero
D. All of them
|
| 10 | 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
|
Test Questions