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3rd Chapter

ICS Part 1 Economics Chapter 3 MCQs Test

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

First Year Economics Chapter 3 Online MCQ Test for 1st Year Economics Chapter 3 (Some Mathematical and Statistical Concepts)

Sr. # Questions Answers Choice
1 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
2 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
3 How many kinds of data?
  • A. 2
  • B. 3
  • C. 4
  • D. 5
4 if X and Y scales are the same a line making 45-degree angle with X-axis has slope
  • A. 1/4
  • B. 1/2
  • C. 1
  • D. constant
5 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.
6 A bridge will be a
  • A. Private good
  • B. Capital goods
  • C. Consumer good
  • D. Personal good
7 If we plot the equation y = 20 +3x, its slope is
  • A. 20
  • B. 3
  • C. 20/3
  • D. Indeterminate
8 Variable are represented by symbol
  • A. V
  • B. U
  • C. P
  • D. C
9 This is a tool in economic studies
  • A. market
  • B. price
  • C. firm
  • D. functional relation
10 To show data in tables, we must first
  • A. reduce data
  • B. expand data
  • C. classify data
  • D. all of the above

Top Scorers of Economics Ics Part 1 English Medium Chapter 3 Online Test

P

Priya Yash

Lahore04 - May - 2024

18/20
02 Mins 38 Sec
B

Bano Begum

Lahore09 - May - 2024

17/20
04 Mins 51 Sec
Z

Zaina Ch

Lahore10 - May - 2024

15/20
01 Mins 43 Sec
M

Maryam Akram

Lahore21 - Apr - 2024

15/20
02 Mins 45 Sec
Z

Zainab Nouman

Lahore16 - Apr - 2024

12/20
03 Mins 34 Sec
M

Maryam Akram

Lahore21 - Apr - 2024

12/20
06 Mins 06 Sec
T

Taimoor Kayani

Lahore08 - May - 2024

12/20
11 Mins 54 Sec
B

Bano Begum

Lahore09 - May - 2024

11/20
04 Mins 51 Sec
T

Taimoor Kayani

Lahore08 - May - 2024

10/20
11 Mins 54 Sec

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