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

Variable are represented by symbol

Question # 2

A bridge will be a

Question # 3

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

Question # 4

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

Question # 5

Initial utility of a product is :

Question # 6

How many kinds of Function

Question # 7

How many kinds of data?

Question # 8

Constant are represented by symbol

Question # 9

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

Question # 10

This is a tool in economic studies

Question # 11

How many kinds of equations?

Question # 12

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

Question # 13

The first law of consumption was presented by.

Question # 14

Which is the general form of quadratic equation

Question # 15

To measure changes in purchasing power of money, we use

Question # 16

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 # 17

Law of equi marginal utility provides basis for.

Question # 18

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

Question # 19

______ is a science which is concerned with the collection, presentation, and interpretation of numerical data

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 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
2 This is a tool in economic studies
A. market
B. price
C. firm
D. functional relation
3 Initial utility of a product is :
A. Highest
B. Lowest
C. Conatant
D. None of them
4 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
5 Total utility is maximised when.
A. Marginal utility is zero
B. Marginal utility falls
C. Marginal utility rises
D. Non of the above
6 Constant are represented by symbol
A. C
B. V
C. P
D. U
7
When marginal utility of a product is zero its total utility will be.
A. Increase
B. Decreasing
C. Maximum
D. Constant
8 A bridge will be a
A. Private good
B. Capital goods
C. Consumer good
D. Personal good
9 Law of equi marginal utility provides basis for.
A. Equal distribution of wealth
B. Economy in taxation
C. Law of diminishing returns
D. Law of constant returns
10 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

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