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

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

Question # 3

A bridge will be a

Question # 4

The maintain social status in life, a person requires.

Question # 5

Law of diminishing marginal utility provides basis for:

Question # 6

Which is the general form of quadratic equation

Question # 7

How many kinds of Function

Question # 8

In mathematics which letters at the end of alphabet are used to represent variables

Question # 9

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

Question # 10

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

Question # 11

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

Question # 12

How many kinds of data?

Question # 13

How many Kinds of variables?

Question # 14

Initial utility of a product is :

Question # 15

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

Question # 16

Total utility is maximised when.

Question # 17

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

Question # 18

3x2=0 is an equation

Question # 19

How many kinds of equations?

Question # 20

A statement of how one variable affects other variable is

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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 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
2
When marginal utility of a product is zero its total utility will be.
A. Increase
B. Decreasing
C. Maximum
D. Constant
3 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
4 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
5 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
6 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
7 Who introduced indifference curves to explain consumer's beghavior
A. J.R Hicks
B. Marshall
C. Robbins
D. Adam Smith
8 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
9 Constant are represented by symbol
A. C
B. V
C. P
D. U
10 The relationship between two variables that move in the same direction is called
A. neutral
B. positive
C. independent
D. dependent

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