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This online test contains MCQs about following topics:
Utility ,Relationshipsof marginal and Total utility ,Scarcity ,Value and Price ,Income ,Goods and Sevice ,Wealth ,Law of Diminshing Utility ,Law of Equi Marginal Utility ,Formula for Consumers Equilibrium
MCQ's Test For Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test"
Try The MCQ's Test For Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 2 Online Test
00:00
Question # 1
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 2
The good which are used to produce more goods are.``
Question # 3
MU curve
Question # 4
Law of Equi marginal utlility is a low of
Question # 5
The utility of durable consumer goods.
Question # 6
Goods which can satisfy human wants are.
Question # 7
Utility of a product depends upon
Question # 8
The goods used to produce income or wealth are.,
Question # 9
A consumer in equilibrium when marginal utilities are
Question # 10
Indifference curves are convex to the origin because
Question # 11
Utility and usefulness are
Question # 12
Human wants are
Question # 13
When MU=0, TU is
Question # 14
When MU is positive, TU
Question # 15
the term marginal in economics means
Question # 16
Economic wants.
Question # 17
Power of a product which can satisfy human want is.
Question # 18
Rotten eggs are
Question # 19
Utility is most closely related to the term
Question # 20
A consumer's spending is restricted because of
ICS Part 1 Economics Chapter 2 MCQs Test
Top Scorers Of Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test" MCQ`s Test
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ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 2 | The value of a product depends upon. |
A. The number of dollars
B. The numbers of dollars which can be given in exchange for it
C. The current exchange rate.
D. None of them
|
| 3 | Indifference curves are convex to the origin because |
A. two goods are perfect substitutes
B. two goods are imperfect substitutes
C. two goods are perfect complementary goods
D. goods area jointly demanded
|
| 4 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 5 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 6 | .Which one is not an economic want. |
A. Want for food
B. Want to be a doctor
C. Want to fall in love
D. Non of the above
|
| 7 | The number of goods and services which one unit of a product can command in exchange for it is its. |
A. Value of money
B. Value in exchange
C. Price
D. Utility
|
| 8 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 9 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 10 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
Test Questions
Share your comments & questions here
niha
14 Dec 2016some of the MCQS are written in urdu which are difficult to understand,,please change them all in English ..i will be very thankful ...