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Top Scorers Of Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test" MCQ`s Test

Sr.#	Question	Answer
1	A product which has value price in the market has.	A. Utility B. Scarcity C. Transferability D. All the three
2	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
3	In economics, one or more persons sharing common consumer budget is called	A. social group B. consumer union C. organisation D. household
4	Utility is most closely related to the term	A. useful B. useless C. necessary D. satisfaction
5	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
6	the term marginal in economics means	A. unimportant B. additional C. the minimum unit D. just barely passing
7	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
8	Goods which can satisfy human wants are.	A. Consumer goods B. Capital goods C. Social goods D. Public goods
9	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
10	The good which are used to produce more goods are.``	A. Social goods B. Capital goods C. Consumer goods D. Public goods