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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 goods used to produce income or wealth are.,
Question # 2
Law of Equi marginal utlility is a low of
Question # 3
.Which one is not an economic want.
Question # 4
The quality of commodity that satisfies some human want or need is called
Question # 5
the term marginal in economics means
Question # 6
One of the following will not be the income of a person.
Question # 7
General price level and real income of the people are correlated with each other
Question # 8
Equilibrium of consumer is explained by
Question # 9
Human wants are
Question # 10
Utility and usefulness are
Question # 11
MU curve
Question # 12
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 13
Rotten eggs are
Question # 14
Indifference curves are convex to the origin because
Question # 15
Goods which can satisfy human wants are.
Question # 16
The value of a product depends upon.
Question # 17
The good which are used to produce more goods are.``
Question # 18
The utility of durable consumer goods.
Question # 19
Only those goods are priced in the market which have:
Question # 20
A consumer's spending is restricted because of
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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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Z Zaina Ch 10 - May - 2024 02 Min 22 Sec 15/20 -
T Taimoor Kayani 08 - May - 2024 03 Min 22 Sec 15/20 -
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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 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
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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 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 4 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
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| 5 | 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
|
| 6 | 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
|
| 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
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| 8 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
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| 9 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
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| 10 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
|
Test Questions
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