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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
.Which one is not an economic want.
Question # 2
If a consumer moves upward along an indifference curve, his total utility
Question # 3
In economics, one or more persons sharing common consumer budget is called
Question # 4
MU curve
Question # 5
Indifference curves are convex to the origin because
Question # 6
Power of a product which can satisfy human want is.
Question # 7
Human wants are
Question # 8
Utility and usefulness are
Question # 9
The price of an non-economic good is:
Question # 10
The value of a product depends upon.
Question # 11
General price level and real income of the people are correlated with each other
Question # 12
The quality of commodity that satisfies some human want or need is called
Question # 13
Only those goods are priced in the market which have:
Question # 14
The utility of durable consumer goods.
Question # 15
Economic wants.
Question # 16
The good which are used to produce more goods are.``
Question # 17
Rotten eggs are
Question # 18
the term marginal in economics means
Question # 19
Goods which can satisfy human wants are.
Question # 20
A consumer's spending is restricted because of
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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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 | If a consumer moves upward along an indifference curve, his total utility |
A. falls to zero
B. does not change
C. increases
D. decreases
|
| 2 | MU curve |
A. rises left to right
B. is always vertical
C. falls left to right
D. is always horizontal
|
| 3 | Equilibrium of consumer is explained by |
A. negative utility
B. positive utility
C. marginal utility
D. profit
|
| 4 | .Which one is not an economic want. |
A. Want for food
B. Want to be a doctor
C. Want to fall in love
D. Non of the above
|
| 5 | Utility of a product depends upon |
A. Knowledge
B. Ownership
C. Form
D. All of them
|
| 6 | Food, Shelter and clothing are: |
A. Necessities
B. Comfort
C. Luxuries.
D. None of three
|
| 7 | 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
|
| 8 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 9 | Utility is most closely related to the term |
A. useful
B. useless
C. necessary
D. satisfaction
|
| 10 | The good which are used to produce more goods are.`` |
A. Social goods
B. Capital goods
C. Consumer goods
D. Public goods
|
Test Questions