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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 MU curve
  • A. rises left to right
  • B. is always vertical
  • C. falls left to right
  • D. is always horizontal
2 Goods which can satisfy human wants are.
  • A. Consumer goods
  • B. Capital goods
  • C. Social goods
  • D. Public goods
3 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
4 The good which are used to produce more goods are.``
  • A. Social goods
  • B. Capital goods
  • C. Consumer goods
  • D. Public goods
5 <strike>P</strike>ower of a product which can satisfy human want is.
  • A. Utility
  • B. Total utility
  • C. Average utility
  • D. Marginal utility
6 A consumer's spending is restricted because of
  • A. marginal utility
  • B. budget constraint
  • C. demand curve
  • D. unlimited wants
7 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
8 Law of Equi marginal utlility is a low of
  • A. production of wealth
  • B. consumption of wealth
  • C. distribution of wealth
  • D. exchange of wealth
9 Diminishing marginal utility is the basis of
  • A. law of supply
  • B. law of demand
  • C. laws of returns
  • D. none of the above
10 A product which has value price in the market has.
  • A. Utility
  • B. Scarcity
  • C. Transferability
  • D. All the three

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

M

M.Attiq-U-Rehman

Lahore24 - Nov - 2023

17/20
02 Mins 50 Sec
S

Siddhartha Barua

Lahore14 - Sep - 2023

13/20
08 Mins 21 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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