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"

Try The MCQ's Test For Chapter 3 "Economics Ics Part 1 English Medium Chapter 3 Online Test"

  • Total Questions20

  • Time Allowed30

Economics Ics Part 1 English Medium Chapter 3 Online Test

00:00
Question # 1

When marginal utility of a product is zero its total utility will be.

Question # 2

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

Question # 3

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

Question # 4

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

Question # 5

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

Question # 6

3x2=0 is an equation

Question # 7

Which is the general form of quadratic equation

Question # 8

Law of diminishing marginal utility provides basis for:

Question # 9

The utility of an additional unit of a product is

Question # 10

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

Question # 11

Total utility is maximised when.

Question # 12

Variable are represented by symbol

Question # 13

How many kinds of equations?

Question # 14

Constant are represented by symbol

Question # 15

The maintain social status in life, a person requires.

Question # 16

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

Question # 17

Initial utility of a product is :

Question # 18

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

Question # 19

Law of equi marginal utility provides basis for.

Question # 20

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

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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 When the classify data on the basis of income there will be
A. class intervals
B. class numbers
C. groups
D. sections
2 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
3
When marginal utility of a product is zero its total utility will be.
A. Increase
B. Decreasing
C. Maximum
D. Constant
4 A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.
A. Negatively slop curve
B. An indifference curve
C. Positively sloped Curve
D. None of the above
5 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
6 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
7 The talent of a professor is .
A. National wealth
B. International wealth
C. Personal wealth
D. Non of them
8 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
9 Variable are represented by symbol
A. V
B. U
C. P
D. C
10 Constant are represented by symbol
A. C
B. V
C. P
D. U

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