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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
Goods which can satisfy human wants are.
Question # 2
Shopkeepers are also producers because in goods, they produce.
Question # 3
The utility of durable consumer goods.
Question # 4
The good which are used to produce more goods are.``
Question # 5
Power of a product which can satisfy human want is.
Question # 6
Economic wants.
Question # 7
the term marginal in economics means
Question # 8
A consumer's spending is restricted because of
Question # 9
Indifference curves are convex to the origin because
Question # 10
One of the following will not be the income of a person.
Question # 11
If a consumer moves upward along an indifference curve, his total utility
Question # 12
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 13
Utility and usefulness are
Question # 14
When MU=0, TU is
Question # 15
A product which has value price in the market has.
Question # 16
Utility is most closely related to the term
Question # 17
Utility of a product depends upon
Question # 18
Equilibrium of consumer is explained by
Question # 19
Law of Equi marginal utlility is a low of
Question # 20
Rotten eggs are
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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| Sr.# | Question | Answer |
|---|---|---|
| 1 | When marginal is negative, it must be true that |
A. the average is negative
B. the average is decreasing
C. the total is negative
D. the total is decreasing
|
| 2 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
| 3 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 4 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
|
| 5 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 6 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 7 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
| 8 | 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
|
| 9 | Law of substitution is another name for |
A. law of diminishing MU
B. law of equi-MU
C. law of demand
D. law of satisfaction
|
| 10 | If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be |
A. equal
B. unequal
C. increasing
D. decreasing
|
Test Questions
