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2nd Chapter

ICS Part 1 Economics Chapter 2 MCQs Test

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

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

Sr. # Questions Answers Choice
1 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
2 The value of a product depends upon.
  • A. The number of dollars
  • B. The numbers of dollars which can be given in exchange for it
  • C. The current exchange rate.
  • D. None of them
3 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
4 The quality of commodity that satisfies some human want or need is called
  • A. service
  • B. demand
  • C. utility
  • D. efficiency
5 The good which are used to produce more goods are.``
  • A. Social goods
  • B. Capital goods
  • C. Consumer goods
  • D. Public goods
6 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
7 Human wants are
  • A. one thousand
  • B. few
  • C. innumerable
  • D. countable
8 In economics, one or more persons sharing common consumer budget is called
  • A. social group
  • B. consumer union
  • C. organisation
  • D. household
9 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
10 <strike>P</strike>ower of a product which can satisfy human want is.
  • A. Utility
  • B. Total utility
  • C. Average utility
  • D. Marginal utility

Top Scorers of Economics Ics Part 1 English Medium Chapter 2 Online Test

N

Noorulain Waseem

Lahore22 - Apr - 2024

19/20
01 Mins 25 Sec
Z

Zainab Nouman

Lahore16 - Apr - 2024

19/20
02 Mins 40 Sec
Z

Zainab Nouman

Lahore16 - Apr - 2024

14/20
03 Mins 35 Sec
N

Noorulain Waseem

Lahore22 - Apr - 2024

13/20
02 Mins 18 Sec
S

Saad Sadiq

Lahore13 - Apr - 2024

13/20
04 Mins 12 Sec
U

Umar Jutt

Lahore24 - Mar - 2024

12/20
03 Mins 14 Sec
N

Noorulain Waseem

Lahore22 - Apr - 2024

12/20
06 Mins 25 Sec
M

Meerabansari

Lahore28 - Mar - 2024

11/20
16 Mins 05 Sec
L

Laiba Rajput

Lahore01 - Apr - 2024

10/20
04 Mins 22 Sec
M

Maryam Akram

Lahore21 - Apr - 2024

10/20
06 Mins 54 Sec
M

Manahil Younas

Lahore21 - Mar - 2024

10/20
07 Mins 09 Sec

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  • N

    Niha

    14 Dec 2016

    some of the MCQS are written in urdu which are difficult to understand,,please change them all in English ..i will be very thankful ...

    Like (1)
    Reply
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