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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 A consumer in equilibrium when marginal utilities are
  • A. minimum
  • B. highest
  • C. equal
  • D. increasing
2 <strike>P</strike>ower of a product which can satisfy human want is.
  • A. Utility
  • B. Total utility
  • C. Average utility
  • D. Marginal utility
3 In economics, one or more persons sharing common consumer budget is called
  • A. social group
  • B. consumer union
  • C. organisation
  • D. household
4 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
5 The quality of commodity that satisfies some human want or need is called
  • A. service
  • B. demand
  • C. utility
  • D. efficiency
6 MU curve
  • A. rises left to right
  • B. is always vertical
  • C. falls left to right
  • D. is always horizontal
7 the term marginal in economics means
  • A. unimportant
  • B. additional
  • C. the minimum unit
  • D. just barely passing
8 General price level and real income of the people are correlated with each other
  • A. Negatively
  • B. Positovely
  • C. Normally
  • D. Sub normally
9 The price of an non-economic good is:
  • A. Very low
  • B. Very high
  • C. Zero
  • D. Negative
10 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

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

A

Aliza Fatima

Lahore22 - Jan - 2023

12/20
08 Mins 45 Sec

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    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)
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