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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
Law of Equi marginal utlility is a low of
Question # 3
If a consumer moves upward along an indifference curve, his total utility
Question # 4
Goods which can satisfy human wants are.
Question # 5
Indifference curves are convex to the origin because
Question # 6
In economics, one or more persons sharing common consumer budget is called
Question # 7
The utility of durable consumer goods.
Question # 8
A product which has value price in the market has.
Question # 9
.Which one is not an economic want.
Question # 10
When MU=0, TU is
Question # 11
The price of an non-economic good is:
Question # 12
Equilibrium of consumer is explained by
Question # 13
Utility of a product depends upon
Question # 14
MU curve
Question # 15
A consumer in equilibrium when marginal utilities are
Question # 16
Utility is most closely related to the term
Question # 17
The good which are used to produce more goods are.``
Question # 18
Diminishing marginal utility is the basis of
Question # 19
When marginal is negative, it must be true that
Question # 20
The number of goods and services which one unit of a product can command in exchange for it is its.
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
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 2 | 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
|
| 3 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 4 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 5 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
| 6 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 7 | 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
|
| 8 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 9 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 10 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
Test Questions
