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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
One of the following will not be the income of a person.
Question # 2
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 3
The good which are used to produce more goods are.``
Question # 4
the term marginal in economics means
Question # 5
When MU=0, TU is
Question # 6
Indifference curves are convex to the origin because
Question # 7
Utility and usefulness are
Question # 8
A consumer in equilibrium when marginal utilities are
Question # 9
The utility of durable consumer goods.
Question # 10
Utility of a product depends upon
Question # 11
The value of a product depends upon.
Question # 12
A consumer's spending is restricted because of
Question # 13
Utility is most closely related to the term
Question # 14
Economic wants.
Question # 15
Goods which can satisfy human wants are.
Question # 16
Human wants are
Question # 17
MU curve
Question # 18
Law of substitution is another name for
Question # 19
Food, Shelter and clothing are:
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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Z Zafar Ali 22 - May - 2024 02 Min 02 Sec 20/20 -
B Bano Begum 09 - May - 2024 03 Min 34 Sec 20/20 -
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S Saad Sadiq 03 - May - 2024 02 Min 06 Sec 14/20 -
L Laiba Sehar45 15 - Nov - 2024 02 Min 40 Sec 14/20 -
A Ahmed Palijo 11 - May - 2024 04 Min 54 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 |
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A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 2 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 3 | 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
|
| 4 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 5 | 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
|
| 6 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 7 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
|
| 8 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 9 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 10 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
Test Questions