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

Which is the general form of quadratic equation

Question # 2

Initial utility of a product is :

Question # 3

How many kinds of equations?

Question # 4

The talent of a professor is .

Question # 5

How many kinds of data?

Question # 6

A statement of how one variable affects other variable is

Question # 7

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

Question # 8

Law of diminishing marginal utility provides basis for:

Question # 9

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

Question # 10

To measure changes in purchasing power of money, we use

Question # 11

Law of equimarginal utility is also called.

Question # 12

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

Question # 13

How many kinds of Function

Question # 14

This is a tool in economic studies

Question # 15

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

Question # 16

To show data in tables, we must first

Question # 17

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

Question # 18

Total utility is maximised when.

Question # 19

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

Question # 20

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

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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 A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.
A. Negatively slop curve
B. An indifference curve
C. Positively sloped Curve
D. None of the above
2 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
3 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
4 When the classify data on the basis of income there will be
A. class intervals
B. class numbers
C. groups
D. sections
5 If we plot the equation y = 20 +3x, its slope is
A. 20
B. 3
C. 20/3
D. Indeterminate
6 The relationship between two variables that move in the same direction is called
A. neutral
B. positive
C. independent
D. dependent
7 A bridge will be a
A. Private good
B. Capital goods
C. Consumer good
D. Personal good
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 How many kinds of data?
A. 2
B. 3
C. 4
D. 5
10 One of the following will not be an assumption of the law of diminishing marginal utility.
A. Nature of the product should not changed
B. Mental condition of the consumer
C. Income of the consumer should not changed
D. None of the three

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