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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
The quality of commodity that satisfies some human want or need is called
Question # 2
The goods used to produce income or wealth are.,
Question # 3
Shopkeepers are also producers because in goods, they produce.
Question # 4
Economic wants.
Question # 5
Equilibrium of consumer is explained by
Question # 6
MU curve
Question # 7
A product which has value price in the market has.
Question # 8
The utility of durable consumer goods.
Question # 9
Goods which can satisfy human wants are.
Question # 10
General price level and real income of the people are correlated with each other
Question # 11
Human wants are
Question # 12
One of the following will not be the income of a person.
Question # 13
If a person consumes goods X and Y maximises total utility, then MU per rupee from the two goods must be
Question # 14
The price of an non-economic good is:
Question # 15
In economics, one or more persons sharing common consumer budget is called
Question # 16
Law of Equi marginal utlility is a low of
Question # 17
Only those goods are priced in the market which have:
Question # 18
When MU=0, TU is
Question # 19
Utility is most closely related to the term
Question # 20
Law of substitution is another name for
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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M M.Attiq-U-Rehman 24 - Nov - 2023 02 Min 50 Sec 17/20 -
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M Mohammad Akhlaq 17 - Oct - 2024 03 Min 42 Sec 16/20 -
Q Qazi Mohid 09 - Jun - 2026 03 Min 51 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 -
A Abdullah Safdar 23 - Jun - 2026 02 Min 21 Sec 14/20
ICS Part 1 Economics Chapter 2 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
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| 2 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
| 3 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 4 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 5 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 6 | The goods used to produce income or wealth are., |
A. Consumer goods
B. Manufactured goods
C. Merit goods
D. Capital goods
|
| 7 | Utility and usefulness are |
A. equal
B. different
C. opposite
D. unrelated
|
| 8 | The price of an non-economic good is: |
A. Very low
B. Very high
C. Zero
D. Negative
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| 9 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 10 | Rotten eggs are |
A. free good
B. economic good
C. service
D. wealth
|
Test Questions