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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
When MU=0, TU is
Question # 2
Law of Equi marginal utlility is a low of
Question # 3
The goods used to produce income or wealth are.,
Question # 4
Indifference curves are convex to the origin because
Question # 5
The value of a product depends upon.
Question # 6
the term marginal in economics means
Question # 7
A consumer's spending is restricted because of
Question # 8
Utility and usefulness are
Question # 9
Diminishing marginal utility is the basis of
Question # 10
When MU is positive, TU
Question # 11
Rotten eggs are
Question # 12
Economic wants.
Question # 13
The quality of commodity that satisfies some human want or need is called
Question # 14
Human wants are
Question # 15
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 16
A consumer in equilibrium when marginal utilities are
Question # 17
Utility is most closely related to the term
Question # 18
In economics, one or more persons sharing common consumer budget is called
Question # 19
A product which has value price in the market has.
Question # 20
MU curve
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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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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Z Zaina Ch 10 - May - 2024 02 Min 22 Sec 15/20 -
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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 Class Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
|
| 2 | 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
|
| 3 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 4 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of 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 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
| 7 | 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
|
| 8 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 9 | In economics, one or more persons sharing common consumer budget is called |
A. social group
B. consumer union
C. organisation
D. household
|
| 10 | 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
|
Test Questions
