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

In mathematics which letters at the end of alphabet are used to represent variables

Question # 2

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

Question # 3

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

Question # 4

A bridge will be a

Question # 5

Law of diminishing marginal utility provides basis for:

Question # 6

The maintain social status in life, a person requires.

Question # 7

Constant are represented by symbol

Question # 8

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

Question # 9

3x2=0 is an equation

Question # 10

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

Question # 11

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

Question # 12

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

Question # 13

Which is the general form of quadratic equation

Question # 14

The first law of consumption was presented by.

Question # 15

Variable are represented by symbol

Question # 16

Total utility is maximised when.

Question # 17

How many kinds of data?

Question # 18

A statement of how one variable affects other variable is

Question # 19

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

Question # 20

Law of equi marginal utility provides basis for.

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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 Constant are represented by symbol
A. C
B. V
C. P
D. U
2 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
3 Law of equimarginal utility is also called.
A. Law of substitution
B. Law of maximum social benefits
C. Law of economy
D. Law of maximum satisfaction
4 A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.
A. Negatively slop curve
B. An indifference curve
C. Positively sloped Curve
D. None of the above
5 Who introduced indifference curves to explain consumer's beghavior
A. J.R Hicks
B. Marshall
C. Robbins
D. Adam Smith
6 3x2=0 is an equation
A. linear
B. quadratic
C. general
D. first degree
7 This is a tool in economic studies
A. market
B. price
C. firm
D. functional relation
8 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
9 ______ 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
10 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

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