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

A statement of how one variable affects other variable is

Question # 2

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

Question # 3

The talent of a professor is .

Question # 4

The first law of consumption was presented by.

Question # 5

Law of equi marginal utility provides basis for.

Question # 6

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

Question # 7

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

Question # 8

How many kinds of Function

Question # 9

Who introduced indifference curves to explain consumer's beghavior

Question # 10

Constant are represented by symbol

Question # 11

How many kinds of data?

Question # 12

How many kinds of equations?

Question # 13

Which is the general form of quadratic equation

Question # 14

A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of

Question # 15

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

Question # 16

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

Question # 17

The utility of an additional unit of a product is

Question # 18

This is a tool in economic studies

Question # 19

3x2=0 is an equation

Question # 20

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

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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 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
2 The talent of a professor is .
A. National wealth
B. International wealth
C. Personal wealth
D. Non of them
3 Total utility is maximised when.
A. Marginal utility is zero
B. Marginal utility falls
C. Marginal utility rises
D. Non of the above
4 Who introduced indifference curves to explain consumer's beghavior
A. J.R Hicks
B. Marshall
C. Robbins
D. Adam Smith
5 A statement of how one variable affects other variable is
A. a quadrant
B. a variable
C. an assumption
D. a functional relationship
6 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
7
When marginal utility of a product is zero its total utility will be.
A. Increase
B. Decreasing
C. Maximum
D. Constant
8 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
9 Constant are represented by symbol
A. C
B. V
C. P
D. U
10 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

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