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"

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

  • Total Questions20

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

Economic wants.

Question # 2

Human wants are

Question # 3

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

Question # 4

Only those goods are priced in the market which have:

Question # 5

If a consumer moves upward along an indifference curve, his total utility

Question # 6

the term marginal in economics means

Question # 7

Utility and usefulness are

Question # 8

When MU=0, TU is

Question # 9

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

Question # 10

The price of an non-economic good is:

Question # 11

Diminishing marginal utility is the basis of

Question # 12

.Which one is not an economic want.

Question # 13

Shopkeepers are also producers because in goods, they produce.

Question # 14

A consumer's spending is restricted because of

Question # 15

Utility of a product depends upon

Question # 16

Goods which can satisfy human wants are.

Question # 17

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

Question # 18

The goods used to produce income or wealth are.,

Question # 19

A product which has value price in the market has.

Question # 20

When MU is positive, TU

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ICS Part 1 Economics Chapter 2 MCQs Test

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ICS Part 1 Economics Chapter 2 Important MCQ's

Sr.# Question Answer
1 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
2 Utility is most closely related to the term
A. useful
B. useless
C. necessary
D. satisfaction
3 When MU=0, TU is
A. minimum
B. maximum
C. increasing
D. decreasing
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 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
6 .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
7 The goods used to produce income or wealth are.,
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
8 Food, Shelter and clothing are:
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
9 Power of a product which can satisfy human want is.
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
10 A consumer's spending is restricted because of
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants

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