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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
In economics, one or more persons sharing common consumer budget is called
Question # 2
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 3
Diminishing marginal utility is the basis of
Question # 4
Rotten eggs are
Question # 5
Law of Equi marginal utlility is a low of
Question # 6
Law of substitution is another name for
Question # 7
Utility and usefulness are
Question # 8
One of the following will not be the income of a person.
Question # 9
Food, Shelter and clothing are:
Question # 10
If a consumer moves upward along an indifference curve, his total utility
Question # 11
Economic wants.
Question # 12
Equilibrium of consumer is explained by
Question # 13
.Which one is not an economic want.
Question # 14
The goods used to produce income or wealth are.,
Question # 15
The value of a product depends upon.
Question # 16
The price of an non-economic good is:
Question # 17
the term marginal in economics means
Question # 18
Utility is most closely related to the term
Question # 19
When MU is positive, TU
Question # 20
The utility of durable consumer goods.
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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L Laiba Muqaddas 25 - Jul - 2024 00 Min 25 Sec 20/20 -
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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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
A Ali Jutt 31 - May - 2024 05 Min 27 Sec 17/20 -
M Mohammad Akhlaq 17 - Oct - 2024 03 Min 42 Sec 16/20 -
Z Zaina Ch 10 - May - 2024 02 Min 22 Sec 15/20 -
T Taimoor Kayani 08 - May - 2024 03 Min 22 Sec 15/20 -
A Ashraf Ali 28 - Jul - 2024 10 Min 18 Sec 15/20 -
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 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 2 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 3 |
|
A. Utility
B. Total utility
C. Average utility
D. Marginal utility
|
| 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 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 6 | 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
|
| 7 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
|
| 8 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 9 | A product which has value price in the market has. |
A. Utility
B. Scarcity
C. Transferability
D. All the three
|
| 10 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
Test Questions