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

Law of equi marginal utility provides basis for.

Question # 2

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

Question # 3

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

Question # 4

Law of equimarginal utility is also called.

Question # 5

Initial utility of a product is :

Question # 6

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

Question # 7

Who introduced indifference curves to explain consumer's beghavior

Question # 8

How many Kinds of variables?

Question # 9

Law of diminishing marginal utility provides basis for:

Question # 10

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

Question # 11

A statement of how one variable affects other variable is

Question # 12

How many kinds of data?

Question # 13

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

Question # 14

Variable are represented by symbol

Question # 15

To show data in tables, we must first

Question # 16

A bridge will be a

Question # 17

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

Question # 18

How many kinds of equations?

Question # 19

The first law of consumption was presented by.

Question # 20

Which is the general form of quadratic 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 Constant are represented by symbol
A. C
B. V
C. P
D. U
2 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
3 If we plot the equation y = 20 +3x, its slope is
A. 20
B. 3
C. 20/3
D. Indeterminate
4 A bridge will be a
A. Private good
B. Capital goods
C. Consumer good
D. Personal good
5 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
6 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
7 According to law of diminishing marginal utilities , a consumer maximises his total utility where.
A. MUa = MPa
B. MUa = AUa
C. MUa = TCa
D. MUa = Pa
8
When marginal utility of a product is zero its total utility will be.
A. Increase
B. Decreasing
C. Maximum
D. Constant
9 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)
10 When the classify data on the basis of income there will be
A. class intervals
B. class numbers
C. groups
D. sections

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