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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
Utility is most closely related to the term
Question # 2
When MU=0, TU is
Question # 3
The quality of commodity that satisfies some human want or need is called
Question # 4
The utility of durable consumer goods.
Question # 5
General price level and real income of the people are correlated with each other
Question # 6
In economics, one or more persons sharing common consumer budget is called
Question # 7
Shopkeepers are also producers because in goods, they produce.
Question # 8
Only those goods are priced in the market which have:
Question # 9
A product which has value price in the market has.
Question # 10
When marginal is negative, it must be true that
Question # 11
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 12
.Which one is not an economic want.
Question # 13
The value of a product depends upon.
Question # 14
The good which are used to produce more goods are.``
Question # 15
A consumer in equilibrium when marginal utilities are
Question # 16
When MU is positive, TU
Question # 17
MU curve
Question # 18
A consumer's spending is restricted because of
Question # 19
Economic wants.
Question # 20
Human wants are
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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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 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 2 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
|
| 3 | 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
|
| 4 | Diminishing marginal utility is the basis of |
A. law of supply
B. law of demand
C. laws of returns
D. none of the above
|
| 5 | When MU=0, TU is |
A. minimum
B. maximum
C. increasing
D. decreasing
|
| 6 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 7 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 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 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
Test Questions
Share your comments & questions here
niha
14 Dec 2016some of the MCQS are written in urdu which are difficult to understand,,please change them all in English ..i will be very thankful ...