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

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

Question # 2

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

Question # 3

Initial utility of a product is :

Question # 4

In mathematics which letters at the end of alphabet are used to represent variables

Question # 5

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

Question # 6

How many Kinds of variables?

Question # 7

A statement of how one variable affects other variable is

Question # 8

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

Question # 9

The utility of an additional unit of a product is

Question # 10

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

Question # 11

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

Question # 12

Who introduced indifference curves to explain consumer's beghavior

Question # 13

To measure changes in purchasing power of money, we use

Question # 14

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

Question # 15

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

Question # 16

Which is the general form of quadratic equation

Question # 17

Constant are represented by symbol

Question # 18

The relationship between two variables that move in the same direction is called

Question # 19

To show data in tables, we must first

Question # 20

3x2=0 is an equation

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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 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
2 Who introduced indifference curves to explain consumer's beghavior
A. J.R Hicks
B. Marshall
C. Robbins
D. Adam Smith
3 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.
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 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
6 Law of equimarginal utility is also called.
A. Law of substitution
B. Law of maximum social benefits
C. Law of economy
D. Law of maximum satisfaction
7 When the classify data on the basis of income there will be
A. class intervals
B. class numbers
C. groups
D. sections
8 3x2=0 is an equation
A. linear
B. quadratic
C. general
D. first degree
9 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
10 Variable are represented by symbol
A. V
B. U
C. P
D. C

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