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

Initial utility of a product is :

Question # 2

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

Question # 3

Which is the general form of quadratic equation

Question # 4

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

Question # 5

How many kinds of equations?

Question # 6

To show data in tables, we must first

Question # 7

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

Question # 8

The utility of an additional unit of a product is

Question # 9

How many Kinds of variables?

Question # 10

This is a tool in economic studies

Question # 11

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

Question # 12

The maintain social status in life, a person requires.

Question # 13

Law of equimarginal utility is also called.

Question # 14

Constant are represented by symbol

Question # 15

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

Question # 16

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

Question # 17

The talent of a professor is .

Question # 18

How many kinds of data?

Question # 19

How many kinds of Function

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 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
2 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
3 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
4 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
5 A statement of how one variable affects other variable is
A. a quadrant
B. a variable
C. an assumption
D. a functional relationship
6 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)
7 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
8 The first law of consumption was presented by.
A. Robert Malthus
B. Loinel Robbins
C. Alfred Marshall
D. Pareto
9 Initial utility of a product is :
A. Highest
B. Lowest
C. Conatant
D. None of them
10 According to law of equi-marginal utility a consumer will maximises his total utility when
A. He spends all his income on the product only
B. He spends more on one and less on the other
C. Marginal utility of the two goods are equalised
D. Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.

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