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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 number of goods and services which one unit of a product can command in exchange for it is its.
Question # 2
Indifference curves are convex to the origin because
Question # 3
The value of a product depends upon.
Question # 4
General price level and real income of the people are correlated with each other
Question # 5
One of the following will not be the income of a person.
Question # 6
When marginal is negative, it must be true that
Question # 7
A consumer's spending is restricted because of
Question # 8
Utility and usefulness are
Question # 9
Utility of a product depends upon
Question # 10
Human wants are
Question # 11
.Which one is not an economic want.
Question # 12
Utility is most closely related to the term
Question # 13
the term marginal in economics means
Question # 14
A consumer in equilibrium when marginal utilities are
Question # 15
If a consumer moves upward along an indifference curve, his total utility
Question # 16
Economic wants.
Question # 17
The price of an non-economic good is:
Question # 18
The utility of durable consumer goods.
Question # 19
When MU=0, TU is
Question # 20
Equilibrium of consumer is explained by
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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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 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
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| 2 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 3 | When marginal is negative, it must be true that |
A. the average is negative
B. the average is decreasing
C. the total is negative
D. the total is decreasing
|
| 4 | 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
|
| 5 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 6 | One of the following will not be the income of a person. |
A. Wages
B. Profit
C. Sccholarship
D. Salary
|
| 7 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
| 8 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
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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 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
Test Questions