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

This is a tool in economic studies

Question # 2

Which is the general form of quadratic equation

Question # 3

The utility of an additional unit of a product is

Question # 4

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

Question # 5

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

Question # 6

How many kinds of data?

Question # 7

Variable are represented by symbol

Question # 8

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

Question # 9

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

Question # 10

To show data in tables, we must first

Question # 11

A statement of how one variable affects other variable is

Question # 12

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

Question # 13

Constant are represented by symbol

Question # 14

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

Question # 15

Who introduced indifference curves to explain consumer's beghavior

Question # 16

Law of equimarginal utility is also called.

Question # 17

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

Question # 18

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

Question # 19

The first law of consumption was presented by.

Question # 20

How many Kinds of variables?

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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 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)
2 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
3 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
4 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
5 3x2=0 is an equation
A. linear
B. quadratic
C. general
D. first degree
6 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
7 When the classify data on the basis of income there will be
A. class intervals
B. class numbers
C. groups
D. sections
8 To measure changes in purchasing power of money, we use
A. percentages
B. index numbers
C. averages
D. variables
9 How many kinds of data?
A. 2
B. 3
C. 4
D. 5
10 ______ 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

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