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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 good which are used to produce more goods are.``
Question # 2
Power of a product which can satisfy human want is.
Question # 3
.Which one is not an economic want.
Question # 4
If a consumer moves upward along an indifference curve, his total utility
Question # 5
Shopkeepers are also producers because in goods, they produce.
Question # 6
Diminishing marginal utility is the basis of
Question # 7
When MU is positive, TU
Question # 8
When MU=0, TU is
Question # 9
General price level and real income of the people are correlated with each other
Question # 10
In economics, one or more persons sharing common consumer budget is called
Question # 11
A product which has value price in the market has.
Question # 12
The value of a product depends upon.
Question # 13
Utility and usefulness are
Question # 14
Goods which can satisfy human wants are.
Question # 15
A consumer in equilibrium when marginal utilities are
Question # 16
Indifference curves are convex to the origin because
Question # 17
Only those goods are priced in the market which have:
Question # 18
The utility of durable consumer goods.
Question # 19
The goods used to produce income or wealth 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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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 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
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| 2 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
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| 3 | 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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| 4 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
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| 5 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
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| 6 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 7 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 8 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
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| 9 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
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| 10 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
|
Test Questions