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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 This is a tool in economic studies
  • A. market
  • B. price
  • C. firm
  • D. functional relation
2 To show data in tables, we must first
  • A. reduce data
  • B. expand data
  • C. classify data
  • D. all of the above
3 The first law of consumption was presented by.
  • A. Robert Malthus
  • B. Loinel Robbins
  • C. Alfred Marshall
  • D. Pareto
4 According to law of diminishing marginal utilities , a consumer maximises his total utility where.
  • A. MU<sub>a</sub> = MP<sub>a</sub>
  • B. MU<sub>a</sub> = AU<sub>a</sub>
  • C. MU<sub>a</sub> = TC<sub>a</sub>
  • D. MU<sub>a</sub> = P<sub>a</sub>
5 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
6 Variable are represented by symbol
  • A. V
  • B. U
  • C. P
  • D. C
7 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
8 3x<sup>2</sup>=0 is an equation
  • A. linear
  • B. quadratic
  • C. general
  • D. first degree
9 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
10 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

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

M

M.Attiq-U-Rehman

Lahore24 - Nov - 2023

15/20
02 Mins 34 Sec
M

M.Attiq-U-Rehman

Lahore24 - Nov - 2023

15/20
02 Mins 34 Sec
S

Siddhartha Barua

Lahore14 - Sep - 2023

12/20
06 Mins 52 Sec

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