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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
MU curve
Question # 2
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 3
the term marginal in economics means
Question # 4
Utility of a product depends upon
Question # 5
Indifference curves are convex to the origin because
Question # 6
In economics, one or more persons sharing common consumer budget is called
Question # 7
Power of a product which can satisfy human want is.
Question # 8
Food, Shelter and clothing are:
Question # 9
When marginal is negative, it must be true that
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=0, TU is
Question # 12
Only those goods are priced in the market which have:
Question # 13
Rotten eggs are
Question # 14
The quality of commodity that satisfies some human want or need is called
Question # 15
A consumer in equilibrium when marginal utilities are
Question # 16
General price level and real income of the people are correlated with each other
Question # 17
Law of substitution is another name for
Question # 18
Shopkeepers are also producers because in goods, they produce.
Question # 19
.Which one is not an economic want.
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 -
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 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 2 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 3 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 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 | If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be |
A. equal
B. unequal
C. increasing
D. decreasing
|
| 6 | A consumer in equilibrium when marginal utilities are |
A. minimum
B. highest
C. equal
D. increasing
|
| 7 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 8 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 9 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 10 | General price level and real income of the people are correlated with each other |
A. Negatively
B. Positovely
C. Normally
D. Sub normally
|
Test Questions