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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
Law of Equi marginal utlility is a low of
Question # 2
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 3
The quality of commodity that satisfies some human want or need is called
Question # 4
Diminishing marginal utility is the basis of
Question # 5
Rotten eggs are
Question # 6
MU curve
Question # 7
When MU=0, TU is
Question # 8
Utility of a product depends upon
Question # 9
Utility is most closely related to the term
Question # 10
When marginal is negative, it must be true that
Question # 11
Shopkeepers are also producers because in goods, they produce.
Question # 12
A consumer's spending is restricted because of
Question # 13
Law of substitution is another name for
Question # 14
Utility and usefulness are
Question # 15
If a consumer moves upward along an indifference curve, his total utility
Question # 16
Human wants are
Question # 17
Power of a product which can satisfy human want is.
Question # 18
The goods used to produce income or wealth are.,
Question # 19
Economic wants.
Question # 20
Indifference curves are convex to the origin because
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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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 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 2 | .Which one is not an economic want. |
A. Want for food
B. Want to be a doctor
C. Want to fall in love
D. Non of the above
|
| 3 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 4 | 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
|
| 5 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 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 | The value of a product depends upon. |
A. The number of dollars
B. The numbers of dollars which can be given in exchange for it
C. The current exchange rate.
D. None of them
|
| 9 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 10 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
Test Questions