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

if X and Y scales are the same a line making 45-degree angle with X-axis has slope

Question # 2

To measure changes in purchasing power of money, we use

Question # 3

Total utility is maximised when.

Question # 4

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

Question # 5

Law of equi marginal utility provides basis for.

Question # 6

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

Question # 7

How many kinds of Function

Question # 8

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

Question # 9

The maintain social status in life, a person requires.

Question # 10

To show data in tables, we must first

Question # 11

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

Question # 12

Which is the general form of quadratic equation

Question # 13

The first law of consumption was presented by.

Question # 14

A bridge will be a

Question # 15

The utility of an additional unit of a product is

Question # 16

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

Question # 17

Variable are represented by symbol

Question # 18

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

Question # 19

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

Question # 20

3x2=0 is an equation

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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 first law of consumption was presented by.
A. Robert Malthus
B. Loinel Robbins
C. Alfred Marshall
D. Pareto
2 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
3 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
4 ______ 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
5 A ______ is something which is measurable and can take on different values
A. Variable
B. Constant
C. Both a and b
D. None of these
6 To measure changes in purchasing power of money, we use
A. percentages
B. index numbers
C. averages
D. variables
7 Who introduced indifference curves to explain consumer's beghavior
A. J.R Hicks
B. Marshall
C. Robbins
D. Adam Smith
8 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
9 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
10 This is a tool in economic studies
A. market
B. price
C. firm
D. functional relation

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