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

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Question # 1

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

Question # 2

Who introduced indifference curves to explain consumer's beghavior

Question # 3

How many kinds of equations?

Question # 4

Total utility is maximised when.

Question # 5

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

Question # 6

The first law of consumption was presented by.

Question # 7

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

Question # 8

A bridge will be a

Question # 9

This is a tool in economic studies

Question # 10

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

Question # 11

Law of equi marginal utility provides basis for.

Question # 12

To measure changes in purchasing power of money, we use

Question # 13

Initial utility of a product is :

Question # 14

3x2=0 is an equation

Question # 15

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

Question # 16

A statement of how one variable affects other variable is

Question # 17

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

Question # 18

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

Question # 19

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

Question # 20

To show data in tables, we must first

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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 relationship between two variables that move in the same direction is called
A. neutral
B. positive
C. independent
D. dependent
2 Marginal utility of a product is the utility obtained by consuming.
A. First unit of consummption
B. Each additional unit of consumption
C. Last unit of consumption
D. None of the them
3 How many kinds of equations?
A. 4
B. 3
C. 2
D. 5
4 3x2=0 is an equation
A. linear
B. quadratic
C. general
D. first degree
5 Constant are represented by symbol
A. C
B. V
C. P
D. U
6 How many Kinds of variables?
A. There are many kinds of variables
B. There are 2 kinds of variables
C. There are 3 kinds of variables
D. There are 4 kinds of variables
7 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
8 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
9 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
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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