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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
.Which one is not an economic want.
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
A product which has value price in the market has.
Question # 4
If a consumer moves upward along an indifference curve, his total utility
Question # 5
A consumer's spending is restricted because of
Question # 6
Law of Equi marginal utlility is a low of
Question # 7
When MU is positive, TU
Question # 8
The value of a product depends upon.
Question # 9
The goods used to produce income or wealth are.,
Question # 10
The utility of durable consumer goods.
Question # 11
the term marginal in economics means
Question # 12
Only those goods are priced in the market which have:
Question # 13
Power of a product which can satisfy human want is.
Question # 14
The quality of commodity that satisfies some human want or need is called
Question # 15
Goods which can satisfy human wants are.
Question # 16
Equilibrium of consumer is explained by
Question # 17
The price of an non-economic good is:
Question # 18
General price level and real income of the people are correlated with each other
Question # 19
Economic wants.
Question # 20
Indifference curves are convex to the origin because
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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B Bano Begum 09 - May - 2024 03 Min 34 Sec 20/20 -
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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 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
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| 2 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 3 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
| 4 | Law of Equi marginal utlility is a low of |
A. production of wealth
B. consumption of wealth
C. distribution of wealth
D. exchange of wealth
|
| 5 | 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
|
| 6 | Economic wants. |
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
|
| 7 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 8 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 9 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
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| 10 | 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
|
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 ...