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2nd Chapter

ICS Part 1 Economics Chapter 2 MCQs Test

First Year Economics Chapter 2 Online MCQ Test for 1st Year Economics Chapter 2 (Consumer Behaviour)

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

First Year Economics Chapter 2 Online MCQ Test for 1st Year Economics Chapter 2 (Consumer Behaviour)

Sr. # Questions Answers Choice
1 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
2 Economic wants.
  • A. Can unlimited
  • B. Capital goods
  • C. Social goods
  • D. Public goods
3 Rotten eggs are
  • A. free good
  • B. economic good
  • C. service
  • D. wealth
4 The good which are used to produce more goods are.``
  • A. Social goods
  • B. Capital goods
  • C. Consumer goods
  • D. Public goods
5 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
6 Utility and usefulness are
  • A. equal
  • B. different
  • C. opposite
  • D. unrelated
7 Diminishing marginal utility is the basis of
  • A. law of supply
  • B. law of demand
  • C. laws of returns
  • D. none of the above
8 In economics, one or more persons sharing common consumer budget is called
  • A. social group
  • B. consumer union
  • C. organisation
  • D. household
9 The utility of durable consumer goods.
  • A. Diminishes with the passage of time
  • B. Perishes, if not used
  • C. Can be obtained constantly
  • D. None of the three
10 A product which has value price in the market has.
  • A. Utility
  • B. Scarcity
  • C. Transferability
  • D. All the three

Top Scorers of Economics Ics Part 1 English Medium Chapter 2 Online Test

U

Umar Jutt

Lahore24 - Mar - 2024

12/20
03 Mins 14 Sec
K

Kiran Abbas

Lahore13 - Jan - 2024

11/20
03 Mins 18 Sec
M

Meerabansari

Lahore28 - Mar - 2024

11/20
16 Mins 05 Sec
M

Manahil Younas

Lahore21 - Mar - 2024

10/20
07 Mins 09 Sec

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  • N

    Niha

    14 Dec 2016

    some of the MCQS are written in urdu which are difficult to understand,,please change them all in English ..i will be very thankful ...

    Like (1)
    Reply
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