First Year Economics Chapter 2 Online MCQ Test for 1st Year Economics Chapter 2 (Consumer Behaviour)

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

ICS Part 1 Economics Chapter 2 Test

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ICS Part 1 Economics Chapter Wise Test

MCQ's Test For Chapter 2 "Economics Ics Part 1 English Medium Chapter 2 Online Test"

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Economics Ics Part 1 English Medium Chapter 2 Online Test

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Question # 1

MU curve

Question # 2

Utility and usefulness are

Question # 3

Economic wants.

Question # 4

When marginal is negative, it must be true that

Question # 5

Utility is most closely related to the term

Question # 6

The quality of commodity that satisfies some human want or need is called

Question # 7

The number of goods and services which one unit of a product can command in exchange for it is its.

Question # 8

Shopkeepers are also producers because in goods, they produce.

Question # 9

A consumer's spending is restricted because of

Question # 10

Only those goods are priced in the market which have:

Question # 11

In economics, one or more persons sharing common consumer budget is called

Question # 12

Law of Equi marginal utlility is a low of

Question # 13

General price level and real income of the people are correlated with each other

Question # 14

The good which are used to produce more goods are.``

Question # 15

Diminishing marginal utility is the basis of

Question # 16

A consumer in equilibrium when marginal utilities are

Question # 17

When MU is positive, TU

Question # 18

A product which has value price in the market has.

Question # 19

Human wants are

Question # 20

Utility of a product depends upon

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Economics
2nd Chapter

ICS Part 1 Economics Chapter 2 MCQs Test

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Sr.# Question Answer
1 Economic wants.
A. Can unlimited
B. Capital goods
C. Social goods
D. Public goods
2 Rotten eggs are
A. free good
B. economic good
C. service
D. wealth
3 Food, Shelter and clothing are:
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
4 The number of goods and services which one unit of a product can command in exchange for it is its.
A. Value of money
B. Value in exchange
C. Price
D. Utility
5 .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
6 Equilibrium of consumer is explained by
A. negative utility
B. positive utility
C. marginal utility
D. profit
7 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
8 The quality of commodity that satisfies some human want or need is called
A. service
B. demand
C. utility
D. efficiency
9 When MU=0, TU is
A. minimum
B. maximum
C. increasing
D. decreasing
10 The good which are used to produce more goods are.``
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
11 A consumer's spending is restricted because of
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
12 In economics, one or more persons sharing common consumer budget is called
A. social group
B. consumer union
C. organisation
D. household
13 Shopkeepers are also producers because in goods, they produce.
A. Form utility
B. Time utility
C. Use utility
D. Place utility
14 Goods which can satisfy human wants are.
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
15 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
16 Human wants are
A. one thousand
B. few
C. innumerable
D. countable
17 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

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