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## 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

Start Chapter 3 Test

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

1 This is a tool in economic studies
• A. market
• B. price
• C. firm
• D. functional relation
2 To show data in tables, we must first
• A. reduce data
• B. expand data
• C. classify data
• D. all of the above
3 The first law of consumption was presented by.
• A. Robert Malthus
• B. Loinel Robbins
• C. Alfred Marshall
• D. Pareto
4 According to law of diminishing marginal utilities , a consumer maximises his total utility where.
• A. MU<sub>a</sub> = MP<sub>a</sub>
• B. MU<sub>a</sub> = AU<sub>a</sub>
• C. MU<sub>a</sub> = TC<sub>a</sub>
• D. MU<sub>a</sub> = P<sub>a</sub>
5 One of the following is not an exception to the law of diminishing marginal utility .
• A. Money
• B. Knowledge
• C. Music
• D. Non of them
6 Variable are represented by symbol
• A. V
• B. U
• C. P
• D. C
7 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
8 3x<sup>2</sup>=0 is an equation
• A. linear
• C. general
• D. first degree
9 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
10 The utility of an additional unit of a product is
• A. Law of demand
• B. Law of substitution
• C. Law of supply
• D. Law of diminishing marginal utility

### Top Scorers of Economics Ics Part 1 English Medium Chapter 3 Online Test

M

#### M.Attiq-U-Rehman

Lahore24 - Nov - 2023

15/20
02 Mins 34 Sec
M

#### M.Attiq-U-Rehman

Lahore24 - Nov - 2023

15/20
02 Mins 34 Sec
S

#### Siddhartha Barua

Lahore14 - Sep - 2023

12/20
06 Mins 52 Sec

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