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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
Economic wants.
Question # 2
The utility of durable consumer goods.
Question # 3
Utility of a product depends upon
Question # 4
General price level and real income of the people are correlated with each other
Question # 5
The value of a product depends upon.
Question # 6
The quality of commodity that satisfies some human want or need is called
Question # 7
Utility and usefulness are
Question # 8
.Which one is not an economic want.
Question # 9
Diminishing marginal utility is the basis of
Question # 10
The good which are used to produce more goods are.``
Question # 11
If a consumer moves upward along an indifference curve, his total utility
Question # 12
When marginal is negative, it must be true that
Question # 13
The price of an non-economic good is:
Question # 14
Food, Shelter and clothing are:
Question # 15
Rotten eggs are
Question # 16
Utility is most closely related to the term
Question # 17
Only those goods are priced in the market which have:
Question # 18
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 19
A consumer's spending is restricted because of
Question # 20
Power of a product which can satisfy human want is.
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 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
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| 2 | 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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| 3 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
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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
|
| 5 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
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| 6 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 7 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 8 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
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| 9 | General price level and real income of the people are correlated with each other |
A. Negatively
B. Positovely
C. Normally
D. Sub normally
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| 10 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
Test Questions