First Year Economics Chapter 3 Online MCQ Test for 1st Year Economics Chapter 3 (Some Mathematical and Statistical Concepts)

This online test contains MCQs about following topics:

Variables and Constant ,Parametrs ,Equations, Simultaneous Equation,Graphs of Equations,Functions,Statistics ,Data Collection,Classification and Tabulations

ICS Part 1 Economics Chapter 3 Test

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MCQ's Test For Chapter 3 "Economics Ics Part 1 English Medium Chapter 3 Online Test"

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  • Total Questions20

  • Time Allowed30

Economics Ics Part 1 English Medium Chapter 3 Online Test

00:00
Question # 1

One of the following will not be an assumption of the law of diminishing marginal utility.

Question # 2

Who introduced indifference curves to explain consumer's beghavior

Question # 3

Variable are represented by symbol

Question # 4

A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.

Question # 5

When marginal utility of a product is zero its total utility will be.

Question # 6

According to law of equi-marginal utility a consumer will maximises his total utility when

Question # 7

According to law of diminishing marginal utilities , a consumer maximises his total utility where.

Question # 8

A bridge will be a

Question # 9

3x2=0 is an equation

Question # 10

A statement of how one variable affects other variable is

Question # 11

When the classify data on the basis of income there will be

Question # 12

Marginal utility of a product is the utility obtained by consuming.

Question # 13

How many kinds of data?

Question # 14

How many Kinds of variables?

Question # 15

To measure changes in purchasing power of money, we use

Question # 16

A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of

Question # 17

The talent of a professor is .

Question # 18

How many kinds of equations?

Question # 19

How many kinds of Function

Question # 20

If we plot the equation y = 20 +3x, its slope is

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ICS Part 1 Economics Chapter 3 MCQs Test

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ICS Part 1 Economics Chapter 3 Important MCQ's

Sr.# Question Answer
1 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
2 if X and Y scales are the same a line making 45-degree angle with X-axis has slope
A. 1/4
B. 1/2
C. 1
D. constant
3 A bridge will be a
A. Private good
B. Capital goods
C. Consumer good
D. Personal good
4 ______ is a science which is concerned with the collection, presentation, and interpretation of numerical data
A. Statistics
B. Economics analysis
C. Function
D. None of these
5 Initial utility of a product is :
A. Highest
B. Lowest
C. Conatant
D. None of them
6 A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of
A. Prof. Kooros
B. Prof. Marshall
C. Prof. Rabbins
D. Prof. Kneez
7 The first law of consumption was presented by.
A. Robert Malthus
B. Loinel Robbins
C. Alfred Marshall
D. Pareto
8 The maintain social status in life, a person requires.
A. Bare necessities of life
B. Comforts of life
C. Luxuries of life
D. All of them
9 How many kinds of data?
A. 2
B. 3
C. 4
D. 5
10 One of the following will not be an assumption of the law of diminishing marginal utility.
A. Nature of the product should not changed
B. Mental condition of the consumer
C. Income of the consumer should not changed
D. None of the three

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