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

How many kinds of Function

Question # 2

A statement of how one variable affects other variable is

Question # 3

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

Question # 4

To show data in tables, we must first

Question # 5

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

Question # 6

How many kinds of data?

Question # 7

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

Question # 8

Law of equimarginal utility is also called.

Question # 9

3x2=0 is an equation

Question # 10

Who introduced indifference curves to explain consumer's beghavior

Question # 11

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

Question # 12

To measure changes in purchasing power of money, we use

Question # 13

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

Question # 14

Constant are represented by symbol

Question # 15

Total utility is maximised when.

Question # 16

Initial utility of a product is :

Question # 17

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

Question # 18

Variable are represented by symbol

Question # 19

The talent of a professor is .

Question # 20

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

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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 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
2 In mathematics which letters at the end of alphabet are used to represent variables
A. (u,v,w,x,y,z)
B. (a,b.c.d.e.f.g)
C. (a.b.c.u.v.w)
D. ((x,y,z,a,b,c)
3 ______ 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
4 This is a tool in economic studies
A. market
B. price
C. firm
D. functional relation
5 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
6 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
7 The maintain social status in life, a person requires.
A. Bare necessities of life
B. Comforts of life
C. Luxuries of life
D. All of them
8 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
9 A statement of how one variable affects other variable is
A. a quadrant
B. a variable
C. an assumption
D. a functional relationship
10 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

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