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

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

Question # 2

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

Question # 3

Law of diminishing marginal utility provides basis for:

Question # 4

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

Question # 5

According to law of diminishing marginal utilities , a consumer maximises his total utility where.

Question # 6

Law of equimarginal utility is also called.

Question # 7

Initial utility of a product is :

Question # 8

This is a tool in economic studies

Question # 9

3x2=0 is an equation

Question # 10

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

Question # 11

A bridge will be a

Question # 12

How many kinds of equations?

Question # 13

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

Question # 14

How many kinds of Function

Question # 15

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 # 16

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

Question # 17

To show data in tables, we must first

Question # 18

Variable are represented by symbol

Question # 19

Constant are represented by symbol

Question # 20

Law of equi marginal utility provides basis for.

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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 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
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 Law of diminishing marginal utility provides basis for:
A. Law of demand
B. Law of supply
C. Laws of returns
D. Law of variable proportions
5 Variable are represented by symbol
A. V
B. U
C. P
D. C
6 To show data in tables, we must first
A. reduce data
B. expand data
C. classify data
D. all of the above
7 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
8 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
9 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
10 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)

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