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 maintain social status in life, a person requires.

Question # 2

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

Question # 3

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

Question # 4

The first law of consumption was presented by.

Question # 5

The utility of an additional unit of a product is

Question # 6

Which is the general form of quadratic equation

Question # 7

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

Question # 8

How many kinds of equations?

Question # 9

How many kinds of data?

Question # 10

A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of

Question # 11

Initial utility of a product is :

Question # 12

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

Question # 13

A bridge will be a

Question # 14

Variable are represented by symbol

Question # 15

Law of equi marginal utility provides basis for.

Question # 16

3x2=0 is an equation

Question # 17

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

Question # 18

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

Question # 19

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

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 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
2 If we plot the equation y = 20 +3x, its slope is
A. 20
B. 3
C. 20/3
D. Indeterminate
3 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
4 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
5 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
6 The relationship between two variables that move in the same direction is called
A. neutral
B. positive
C. independent
D. dependent
7 The first law of consumption was presented by.
A. Robert Malthus
B. Loinel Robbins
C. Alfred Marshall
D. Pareto
8 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
9 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
10 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

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