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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
The price of an non-economic good is:
Question # 2
If a consumer moves upward along an indifference curve, his total utility
Question # 3
Economic wants.
Question # 4
Utility of a product depends upon
Question # 5
Food, Shelter and clothing are:
Question # 6
Utility is most closely related to the term
Question # 7
When MU is positive, TU
Question # 8
Shopkeepers are also producers because in goods, they produce.
Question # 9
The quality of commodity that satisfies some human want or need is called
Question # 10
Goods which can satisfy human wants are.
Question # 11
In economics, one or more persons sharing common consumer budget is called
Question # 12
One of the following will not be the income of a person.
Question # 13
Indifference curves are convex to the origin because
Question # 14
Rotten eggs are
Question # 15
Power of a product which can satisfy human want is.
Question # 16
General price level and real income of the people are correlated with each other
Question # 17
When MU=0, TU is
Question # 18
The good which are used to produce more goods are.``
Question # 19
The goods used to produce income or wealth are.,
Question # 20
Law of substitution is another name for
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 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
| 2 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 3 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
|
| 4 | 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
|
| 5 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
|
| 6 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 7 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 8 | 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
|
| 9 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 10 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
Test Questions