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

The first law of consumption was presented by.

Question # 2

How many kinds of equations?

Question # 3

How many kinds of data?

Question # 4

Initial utility of a product is :

Question # 5

A statement of how one variable affects other variable is

Question # 6

To show data in tables, we must first

Question # 7

The maintain social status in life, a person requires.

Question # 8

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

Question # 9

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

Question # 10

The utility of an additional unit of a product is

Question # 11

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

Question # 12

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

Question # 13

Law of equi marginal utility provides basis for.

Question # 14

A bridge will be a

Question # 15

A ______ is something which is measurable and can take on different values

Question # 16

How many kinds of Function

Question # 17

Total utility is maximised when.

Question # 18

How many Kinds of variables?

Question # 19

To measure changes in purchasing power of money, we use

Question # 20

Law of equimarginal utility is also called.

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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 The first law of consumption was presented by.
A. Robert Malthus
B. Loinel Robbins
C. Alfred Marshall
D. Pareto
2 Variable are represented by symbol
A. V
B. U
C. P
D. C
3 The relationship between two variables that move in the same direction is called
A. neutral
B. positive
C. independent
D. dependent
4 In mathematics which letters at the end of alphabet are used to represent variables
A. (u,v,w,x,y,z)
B. (a,b.c.d.e.f.g)
C. (a.b.c.u.v.w)
D. ((x,y,z,a,b,c)
5 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
6 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
7 Marginal utility of a product is the utility obtained by consuming.
A. First unit of consummption
B. Each additional unit of consumption
C. Last unit of consumption
D. None of the them
8 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
9 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
10 If we plot the equation y = 20 +3x, its slope is
A. 20
B. 3
C. 20/3
D. Indeterminate

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