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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
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
Indifference curves are convex to the origin because
Question # 4
A consumer's spending is restricted because of
Question # 5
The price of an non-economic good is:
Question # 6
Utility is most closely related to the term
Question # 7
The goods used to produce income or wealth are.,
Question # 8
Utility of a product depends upon
Question # 9
The quality of commodity that satisfies some human want or need is called
Question # 10
Law of Equi marginal utlility is a low of
Question # 11
the term marginal in economics means
Question # 12
The utility of durable consumer goods.
Question # 13
Human wants are
Question # 14
General price level and real income of the people are correlated with each other
Question # 15
Power of a product which can satisfy human want is.
Question # 16
The good which are used to produce more goods are.``
Question # 17
.Which one is not an economic want.
Question # 18
Equilibrium of consumer is explained by
Question # 19
Rotten eggs are
Question # 20
Shopkeepers are also producers because in goods, they produce.
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 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
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| 2 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
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| 3 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
| 4 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
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| 5 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
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| 6 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
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| 7 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 8 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
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| 9 | .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
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| 10 | The utility of durable consumer goods. |
A. Diminishes with the passage of time
B. Perishes, if not used
C. Can be obtained constantly
D. None of the three
|
Test Questions