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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
Law of substitution is another name for
Question # 2
The good which are used to produce more goods are.``
Question # 3
The number of goods and services which one unit of a product can command in exchange for it is its.
Question # 4
The goods used to produce income or wealth are.,
Question # 5
Utility and usefulness are
Question # 6
Economic wants.
Question # 7
Only those goods are priced in the market which have:
Question # 8
Goods which can satisfy human wants are.
Question # 9
When marginal is negative, it must be true that
Question # 10
Shopkeepers are also producers because in goods, they produce.
Question # 11
General price level and real income of the people are correlated with each other
Question # 12
Human wants are
Question # 13
When MU is positive, TU
Question # 14
The utility of durable consumer goods.
Question # 15
The quality of commodity that satisfies some human want or need is called
Question # 16
Utility of a product depends upon
Question # 17
Food, Shelter and clothing are:
Question # 18
the term marginal in economics means
Question # 19
Rotten eggs are
Question # 20
Equilibrium of consumer is explained by
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 -
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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 | When MU is positive, TU |
A. increases
B. decreases
C. remains constant
D. is maximum
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| 2 | When marginal is negative, it must be true that |
A. the average is negative
B. the average is decreasing
C. the total is negative
D. the total is decreasing
|
| 3 | A consumer's spending is restricted because of |
A. marginal utility
B. budget constraint
C. demand curve
D. unlimited wants
|
| 4 | the term marginal in economics means |
A. unimportant
B. additional
C. the minimum unit
D. just barely passing
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| 5 | Human wants are |
A. one thousand
B. few
C. innumerable
D. countable
|
| 6 | Only those goods are priced in the market which have: |
A. Utility
B. Sacrcity
C. Transferability
D. All of the above
|
| 7 | Shopkeepers are also producers because in goods, they produce. |
A. Form utility
B. Time utility
C. Use utility
D. Place utility
|
| 8 | 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
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| 9 | Goods which can satisfy human wants are. |
A. Consumer goods
B. Capital goods
C. Social goods
D. Public goods
|
| 10 | 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
|
Test Questions