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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
Cardinal utility approach was presented by:
Question # 2
When marginal utility is zero, then total utility is
Question # 3
Utility of the last unit of a commodity consumed is called
Question # 4
When marginal utility is negative, total utility:
Question # 5
Which economist did present, cardinal theory of utility
Question # 6
In mathematics, symbol for utility is used
Question # 7
Initial utility is ______ individual utilities of all the units
Question # 8
Which law is applied when marginal utilities of all the purchased goods become equal to each other
Question # 9
First and basic law of consumption is
Question # 10
Which economist stated that utility is not measurable
Question # 11
The power of a good or service to satisfy a human want is called:
Question # 12
Curve of law of diminishing marginal utility
Question # 13
Slope of marginal utility curve is
Question # 14
Total utility is maximum when marginal utility is
Question # 15
Other name of law of equi marginal 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.
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| Sr.# | Question | Answer |
|---|---|---|
| 1 | Consumer's behaviour means: |
A. Selection
B. Purchase
C. Sale
D. Both (a) and (b)
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| 2 | Consumer goods are those goods which the consumers consume |
A. Directly
B. Indirectly
C. Sometimes
D. Never
|
| 3 | First law of consumption is known as: |
A. Law of supply
B. Law of demand
C. Law of diminishing marginal utility
D. Law of equi marginal utility
|
| 4 | 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
|
| 5 | After achieving point of Satiation the total utility starts |
A. Rising
B. Declining
C. Remains constant
D. None of these
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| 6 | Initial utility of a product is: |
A. Highest
B. Lowest
C. Constant
D. All of these
|
| 7 | When marginal utility is zero, then total utility is |
A. Minimum
B. Positive
C. Maximum
D. Zero
|
| 8 | Utility of a commodity is zero, when |
A. Want is satisfied upto a certain extent
B. Want is fully satisfied
C. Utility is positive
D. Want is not satisfied
|
| 9 | Cardinal utility approach was presented by: |
A. Adam smith
B. Keynes
C. Robbins
D. Marshall
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| 10 | Total utility increases when marginal utility is |
A. Positive
B. Negative
C. Zero
D. Minimum
|
Test Questions
