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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
The good which are used to produce more goods are.``
Question # 2
When MU=0, TU is
Question # 3
The quality of commodity that satisfies some human want or need is called
Question # 4
If a consumer moves upward along an indifference curve, his total utility
Question # 5
A consumer's spending is restricted because of
Question # 6
One of the following will not be the income of a person.
Question # 7
A product which has value price in the market has.
Question # 8
Shopkeepers are also producers because in goods, they produce.
Question # 9
In economics, one or more persons sharing common consumer budget is called
Question # 10
Law of substitution is another name for
Question # 11
Economic wants.
Question # 12
The price of an non-economic good is:
Question # 13
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 14
Law of Equi marginal utlility is a low of
Question # 15
General price level and real income of the people are correlated with each other
Question # 16
MU curve
Question # 17
Food, Shelter and clothing are:
Question # 18
The value of a product depends upon.
Question # 19
Utility is most closely related to the term
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 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 2 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 3 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 4 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 5 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 6 | 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
|
| 7 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 8 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 9 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
| 10 | 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
|
Test Questions
