11th class Economics chapter 3 online mcq test with answers for ICS part 1 Economics chapter 3 (Some Mathematical and Statistical Concepts)

Question # 1

A statement of how one variable affects other variable is

a quadrant A
a variable B
an assumption C
a functional relationship D

Question # 2

The maintain social status in life, a person requires.

Bare necessities of life A
Comforts of life B
Luxuries of life C
All of them D

Question # 3

A bridge will be a

Private good A
Capital goods B
Consumer good C
Personal good D

Question # 4

______ is a science which is concerned with the collection, presentation, and interpretation of numerical data

Statistics A
Economics analysis B
Function C
None of these D

Question # 5

Law of diminishing marginal utility provides basis for:

Law of demand A
Law of supply B
Laws of returns C
Law of variable proportions D

Question # 6

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

He spends all his income on the product only A
He spends more on one and less on the other B
Marginal utility of the two goods are equalised C
Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price. D

Question # 7

Total utility is maximised when.

Marginal utility is zero A
Marginal utility falls B
Marginal utility rises C
Non of the above D

Question # 8

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

MU_a = MP_a A
MU_a = AU_a B
MU_a = TC_a C
MU_a = P_a D

Question # 9

Constant are represented by symbol

C A
V B
P C
U D

Question # 10

Which is the general form of quadratic equation

x²-x-20 = 0 A
ax²+bx +c = 0 B
x²- x -c =0 C
None of these D

Question # 11

The talent of a professor is .

National wealth A
International wealth B
Personal wealth C
Non of them D

Question # 12

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

Nature of the product should not changed A
Mental condition of the consumer B
Income of the consumer should not changed C
None of the three D

Question # 13

How many kinds of data?

2 A
3 B
4 C
5 D

Question # 14

Variable are represented by symbol

V A
U B
P C
C D

Question # 15

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

Increase A
Decreasing B
Maximum C
Constant D

Question # 16

if X and Y scales are the same a line making 45-degree angle with X-axis has slope

1/4 A
1/2 B
1 C
constant D

Question # 17

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

First unit of consummption A
Each additional unit of consumption B
Last unit of consumption C
None of the them D

Question # 18

Law of equi marginal utility provides basis for.

Equal distribution of wealth A
Economy in taxation B
Law of diminishing returns C
Law of constant returns D

Question # 19

One of the following is not an exception to the law of diminishing marginal utility .

Money A
Knowledge B
Music C
Non of them D

Question # 20

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

20 A
3 B
20/3 C
Indeterminate D

Sr.#	Question	Answer
1	Law of equi marginal utility provides basis for.	A. Equal distribution of wealth B. Economy in taxation C. Law of diminishing returns D. Law of constant returns
2	According to law of diminishing marginal utilities , a consumer maximises his total utility where.	A. MU_a = MP_a B. MU_a = AU_a C. MU_a = TC_a D. MU_a = P_a
3	A bridge will be a	A. Private good B. Capital goods C. Consumer good D. Personal good
4	A ______ is something which is measurable and can take on different values	A. Variable B. Constant C. Both a and b D. None of these
5	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
6	How many kinds of Function	A. 2 B. 3 C. 4 D. 5
7	Law of diminishing marginal utility provides basis for:	A. Law of demand B. Law of supply C. Laws of returns D. Law of variable proportions
8	______ 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
9	According to law of equi-marginal utility a consumer will maximises his total utility when	A. He spends all his income on the product only B. He spends more on one and less on the other C. Marginal utility of the two goods are equalised D. Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.
10	How many Kinds of variables?	A. There are many kinds of variables B. There are 2 kinds of variables C. There are 3 kinds of variables D. There are 4 kinds of variables

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A statement of how one variable affects other variable is

The maintain social status in life, a person requires.

A bridge will be a

______ is a science which is concerned with the collection, presentation, and interpretation of numerical data

Law of diminishing marginal utility provides basis for:

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

Total utility is maximised when.

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

Constant are represented by symbol

Which is the general form of quadratic equation

The talent of a professor is .

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

How many kinds of data?

Variable are represented by symbol

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

if X and Y scales are the same a line making 45-degree angle with X-axis has slope

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

Law of equi marginal utility provides basis for.

One of the following is not an exception to the law of diminishing marginal utility .

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

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