First Year Economics Chapter 2 Online MCQ Test for 1st Year Economics Chapter 2 (Consumer Behaviour)

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

ICS Part 1 Economics Chapter 2 Test

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ICS Part 1 Economics Chapter Wise Test

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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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

A product which has value price in the market has.

Question # 2

In economics, one or more persons sharing common consumer budget is called

Question # 3

Utility is most closely related to the term

Question # 4

When marginal is negative, it must be true that

Question # 5

A consumer's spending is restricted because of

Question # 6

If a consumer moves upward along an indifference curve, his total utility

Question # 7

Utility of a product depends upon

Question # 8

Human wants are

Question # 9

Shopkeepers are also producers because in goods, they produce.

Question # 10

Food, Shelter and clothing are:

Question # 11

The price of an non-economic good is:

Question # 12

Economic wants.

Question # 13

Power of a product which can satisfy human want is.

Question # 14

Goods which can satisfy human wants are.

Question # 15

A consumer in equilibrium when marginal utilities are

Question # 16

Diminishing marginal utility is the basis of

Question # 17

General price level and real income of the people are correlated with each other

Question # 18

Law of Equi marginal utlility is a low of

Question # 19

The value of a product depends upon.

Question # 20

.Which one is not an economic want.

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ICS Part 1 Economics Chapter 2 MCQs Test

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ICS Part 1 Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 When MU is positive, TU
A. increases
B. decreases
C. remains constant
D. is maximum
2 General price level and real income of the people are correlated with each other
A. Negatively
B. Positovely
C. Normally
D. Sub normally
3 the term marginal in economics means
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
4 If a consumer moves upward along an indifference curve, his total utility
A. falls to zero
B. does not change
C. increases
D. decreases
5 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
6 Rotten eggs are
A. free good
B. economic good
C. service
D. wealth
7 Utility of a product depends upon
A. Knowledge
B. Ownership
C. Form
D. All of them
8 Equilibrium of consumer is explained by
A. negative utility
B. positive utility
C. marginal utility
D. profit
9 The good which are used to produce more goods are.``
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
10 A product which has value price in the market has.
A. Utility
B. Scarcity
C. Transferability
D. All the three

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