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

Variable are represented by symbol

Question # 2

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

Question # 3

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

Question # 4

Law of diminishing marginal utility provides basis for:

Question # 5

3x2=0 is an equation

Question # 6

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

Question # 7

Law of equi marginal utility provides basis for.

Question # 8

Law of equimarginal utility is also called.

Question # 9

The talent of a professor is .

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

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

Question # 13

Which is the general form of quadratic equation

Question # 14

How many Kinds of variables?

Question # 15

To measure changes in purchasing power of money, we use

Question # 16

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 # 17

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

Question # 18

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

Question # 19

This is a tool in economic studies

Question # 20

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

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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 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
3 The first law of consumption was presented by.
A. Robert Malthus
B. Loinel Robbins
C. Alfred Marshall
D. Pareto
4 If we plot the equation y = 20 +3x, its slope is
A. 20
B. 3
C. 20/3
D. Indeterminate
5 Total utility is maximised when.
A. Marginal utility is zero
B. Marginal utility falls
C. Marginal utility rises
D. Non of the above
6 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
7 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
8 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
9 How many kinds of Function
A. 2
B. 3
C. 4
D. 5
10 A ______ is something which is measurable and can take on different values
A. Variable
B. Constant
C. Both a and b
D. None of these

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