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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  • Total Questions20

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Economics Ics Part 1 English Medium Chapter 2 Online Test

00:00
Question # 1

A product which has value price in the market has.

Question # 2

When MU=0, TU is

Question # 3

Law of substitution is another name for

Question # 4

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

Question # 5

Shopkeepers are also producers because in goods, they produce.

Question # 6

If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be

Question # 7

A consumer's spending is restricted because of

Question # 8

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

Question # 9

Human wants are

Question # 10

Diminishing marginal utility is the basis of

Question # 11

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

Question # 12

Goods which can satisfy human wants are.

Question # 13

Utility and usefulness are

Question # 14

A consumer in equilibrium when marginal utilities are

Question # 15

The utility of durable consumer goods.

Question # 16

Utility is most closely related to the term

Question # 17

The value of a product depends upon.

Question # 18

MU curve

Question # 19

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

Question # 20

Rotten eggs are

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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 When MU=0, TU is
A. minimum
B. maximum
C. increasing
D. decreasing
2 The good which are used to produce more goods are.``
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
3 Utility is most closely related to the term
A. useful
B. useless
C. necessary
D. satisfaction
4 Only those goods are priced in the market which have:
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
5 The quality of commodity that satisfies some human want or need is called
A. service
B. demand
C. utility
D. efficiency
6 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
7 When marginal is negative, it must be true that
A. the average is negative
B. the average is decreasing
C. the total is negative
D. the total is decreasing
8 the term marginal in economics means
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
9 The goods used to produce income or wealth are.,
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
10 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

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