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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 goods used to produce income or wealth are.,
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
The good which are used to produce more goods are.``
Question # 5
A consumer in equilibrium when marginal utilities are
Question # 6
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 7
Utility of a product depends upon
Question # 8
When marginal is negative, it must be true that
Question # 9
Utility is most closely related to the term
Question # 10
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 11
When MU is positive, TU
Question # 12
The utility of durable consumer goods.
Question # 13
Rotten eggs are
Question # 14
The value of a product depends upon.
Question # 15
Equilibrium of consumer is explained by
Question # 16
MU curve
Question # 17
Diminishing marginal utility is the basis of
Question # 18
Law of Equi marginal utlility is a low of
Question # 19
Goods which can satisfy human wants are.
Question # 20
Utility and usefulness 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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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 -
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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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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 | 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
|
| 2 | Law of Equi marginal utlility is a low of |
A. production of wealth
B. consumption of wealth
C. distribution of wealth
D. exchange of wealth
|
| 3 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 4 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 5 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 6 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
|
| 7 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 8 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 9 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
|
| 10 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
Test Questions