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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
If a consumer moves upward along an indifference curve, his total utility
Question # 2
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 3
A product which has value price in the market has.
Question # 4
Utility of a product depends upon
Question # 5
Law of substitution is another name for
Question # 6
Only those goods are priced in the market which have:
Question # 7
Utility is most closely related to the term
Question # 8
When MU=0, TU is
Question # 9
A consumer's spending is restricted because of
Question # 10
Indifference curves are convex to the origin because
Question # 11
The good which are used to produce more goods are.``
Question # 12
In economics, one or more persons sharing common consumer budget is called
Question # 13
The goods used to produce income or wealth are.,
Question # 14
When marginal is negative, it must be true that
Question # 15
Utility and usefulness are
Question # 16
Law of Equi marginal utlility is a low of
Question # 17
When MU is positive, TU
Question # 18
Human wants are
Question # 19
.Which one is not an economic want.
Question # 20
Rotten eggs are
ICS Part 1 Economics Chapter 2 MCQs 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 | Law of substitution is another name for |
A. law of diminishing MU
B. law of equi-MU
C. law of demand
D. law of satisfaction
|
| 2 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
| 3 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
|
| 4 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 5 | 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
|
| 6 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
|
| 7 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 8 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 9 | The quality of commodity that satisfies some human want or need is called |
A. service
B. demand
C. utility
D. efficiency
|
| 10 | Indifference curves are convex to the origin because |
A. two goods are perfect substitutes
B. two goods are imperfect substitutes
C. two goods are perfect complementary goods
D. goods area jointly demanded
|
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 ...