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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
Human wants are
Question # 2
If a consumer moves upward along an indifference curve, his total utility
Question # 3
Utility is most closely related to the term
Question # 4
When MU is positive, TU
Question # 5
The quality of commodity that satisfies some human want or need is called
Question # 6
The value of a product depends upon.
Question # 7
Power of a product which can satisfy human want is.
Question # 8
Goods which can satisfy human wants are.
Question # 9
Law of substitution is another name for
Question # 10
Law of Equi marginal utlility is a low of
Question # 11
Only those goods are priced in the market which have:
Question # 12
Rotten eggs are
Question # 13
Utility of a product depends upon
Question # 14
.Which one is not an economic want.
Question # 15
The utility of durable consumer goods.
Question # 16
Diminishing marginal utility is the basis of
Question # 17
When marginal is negative, it must be true that
Question # 18
The goods used to produce income or wealth are.,
Question # 19
Food, Shelter and clothing are:
Question # 20
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
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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Z Zafar Ali 22 - May - 2024 02 Min 02 Sec 20/20 -
B Bano Begum 09 - May - 2024 03 Min 34 Sec 20/20 -
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N Noorulain Waseem 22 - Apr - 2024 01 Min 25 Sec 19/20 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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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 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
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| 2 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
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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 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
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| 5 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
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| 6 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
|
| 7 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 8 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
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| 9 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
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| 10 | 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
|
Test Questions