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

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

Question # 2

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

Question # 3

Initial utility of a product is :

Question # 4

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 # 5

To measure changes in purchasing power of money, we use

Question # 6

Law of equimarginal utility is also called.

Question # 7

Variable are represented by symbol

Question # 8

3x2=0 is an equation

Question # 9

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

Question # 10

Law of diminishing marginal utility provides basis for:

Question # 11

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

Question # 12

This is a tool in economic studies

Question # 13

A bridge will be a

Question # 14

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

Question # 15

To show data in tables, we must first

Question # 16

A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.

Question # 17

The first law of consumption was presented by.

Question # 18

Total utility is maximised when.

Question # 19

How many kinds of equations?

Question # 20

How many kinds of data?

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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 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
2 When the classify data on the basis of income there will be
A. class intervals
B. class numbers
C. groups
D. sections
3 A statement of how one variable affects other variable is
A. a quadrant
B. a variable
C. an assumption
D. a functional relationship
4 The relationship between two variables that move in the same direction is called
A. neutral
B. positive
C. independent
D. dependent
5 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
6 How many kinds of data?
A. 2
B. 3
C. 4
D. 5
7 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
8 The talent of a professor is .
A. National wealth
B. International wealth
C. Personal wealth
D. Non of them
9 To measure changes in purchasing power of money, we use
A. percentages
B. index numbers
C. averages
D. variables
10 The first law of consumption was presented by.
A. Robert Malthus
B. Loinel Robbins
C. Alfred Marshall
D. Pareto

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