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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
Food, Shelter and clothing are:
Question # 2
The price of an non-economic good is:
Question # 3
Law of substitution is another name for
Question # 4
When MU=0, TU is
Question # 5
The utility of durable consumer goods.
Question # 6
.Which one is not an economic want.
Question # 7
Only those goods are priced in the market which have:
Question # 8
When marginal is negative, it must be true that
Question # 9
The value of a product depends upon.
Question # 10
When MU is positive, TU
Question # 11
A consumer's spending is restricted because of
Question # 12
One of the following will not be the income of a person.
Question # 13
A product which has value price in the market has.
Question # 14
Equilibrium of consumer is explained by
Question # 15
Utility and usefulness are
Question # 16
Human wants are
Question # 17
Law of Equi marginal utlility is a low of
Question # 18
Diminishing marginal utility is the basis of
Question # 19
The good which are used to produce more goods are.``
Question # 20
Shopkeepers are also producers because in goods, they produce.
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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L Laiba Muqaddas 25 - Jul - 2024 00 Min 25 Sec 20/20 -
Z Zafar Ali 22 - May - 2024 02 Min 02 Sec 20/20 -
B Bano Begum 09 - May - 2024 03 Min 34 Sec 20/20 -
H hafsa Mumtaz 10 - May - 2024 05 Min 04 Sec 20/20 -
N Noorulain Waseem 22 - Apr - 2024 01 Min 25 Sec 19/20 -
Z zainab nouman 16 - Apr - 2024 02 Min 40 Sec 19/20 -
M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
A Ali Jutt 31 - May - 2024 05 Min 27 Sec 17/20 -
M Mohammad Akhlaq 17 - Oct - 2024 03 Min 42 Sec 16/20 -
Z Zaina Ch 10 - May - 2024 02 Min 22 Sec 15/20 -
T Taimoor Kayani 08 - May - 2024 03 Min 22 Sec 15/20 -
A Ashraf Ali 28 - Jul - 2024 10 Min 18 Sec 15/20 -
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 | 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
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| 2 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 3 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 4 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 5 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
| 6 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 7 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 8 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
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| 9 | 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
|
| 10 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
|
Test Questions