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

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

Question # 2

How many kinds of equations?

Question # 3

To measure changes in purchasing power of money, we use

Question # 4

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

Question # 5

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

Question # 6

How many kinds of Function

Question # 7

Initial utility of a product is :

Question # 8

3x2=0 is an equation

Question # 9

The talent of a professor is .

Question # 10

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

Question # 11

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

Question # 12

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

Question # 13

This is a tool in economic studies

Question # 14

The first law of consumption was presented by.

Question # 15

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

Question # 16

Constant are represented by symbol

Question # 17

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

Question # 18

Law of equimarginal utility is also called.

Question # 19

How many Kinds of variables?

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 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
2 One of the following will not be an assumption of the law of diminishing marginal utility.
A. Nature of the product should not changed
B. Mental condition of the consumer
C. Income of the consumer should not changed
D. None of the three
3 A statement of how one variable affects other variable is
A. a quadrant
B. a variable
C. an assumption
D. a functional relationship
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 The talent of a professor is .
A. National wealth
B. International wealth
C. Personal wealth
D. Non of them
6 When the classify data on the basis of income there will be
A. class intervals
B. class numbers
C. groups
D. sections
7 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
8 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
9 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
10 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

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