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

Who introduced indifference curves to explain consumer's beghavior

Question # 2

How many kinds of data?

Question # 3

A statement of how one variable affects other variable is

Question # 4

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

Question # 5

To measure changes in purchasing power of money, we use

Question # 6

The talent of a professor is .

Question # 7

Constant are represented by symbol

Question # 8

To show data in tables, we must first

Question # 9

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 # 10

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

Question # 11

This is a tool in economic studies

Question # 12

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

Question # 13

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

Question # 14

Initial utility of a product is :

Question # 15

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

Question # 16

The utility of an additional unit of a product is

Question # 17

A bridge will be a

Question # 18

Total utility is maximised when.

Question # 19

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

Question # 20

Variable are represented by symbol

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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 talent of a professor is .
A. National wealth
B. International wealth
C. Personal wealth
D. Non of them
2 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
3 Which is the general form of quadratic equation
A. x2-x-20 = 0
B. ax2+bx +c = 0
C. x2- x -c =0
D. None of these
4 A statement of how one variable affects other variable is
A. a quadrant
B. a variable
C. an assumption
D. a functional relationship
5 A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of
A. Prof. Kooros
B. Prof. Marshall
C. Prof. Rabbins
D. Prof. Kneez
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 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
8 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
9 A bridge will be a
A. Private good
B. Capital goods
C. Consumer good
D. Personal good
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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