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3rd Chapter

ICS Part 1 Economics Chapter 3 MCQs Test

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

First Year Economics Chapter 3 Online MCQ Test for 1st Year Economics Chapter 3 (Some Mathematical and Statistical Concepts)

Sr. # Questions Answers Choice
1 How many kinds of data?
  • A. 2
  • B. 3
  • C. 4
  • D. 5
2 Law of equi marginal utility provides basis for.
  • A. Equal distribution of wealth
  • B. Economy in taxation
  • C. Law of diminishing returns
  • D. Law of constant returns
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 Initial utility of a product is :
  • A. Highest
  • B. Lowest
  • C. Conatant
  • D. None of them
5 ______ is a science which is concerned with the collection, presentation, and interpretation of numerical data
  • A. Statistics
  • B. Economics analysis
  • C. Function
  • D. None of these
6 Which is the general form of quadratic equation
  • A. x<sup>2</sup>-x-20 = 0
  • B. ax<sup>2</sup>+bx +c = 0
  • C. x<sup>2</sup>- x -c =0
  • D. None of these
7 To show data in tables, we must first
  • A. reduce data
  • B. expand data
  • C. classify data
  • D. all of the above
8 A bridge will be a
  • A. Private good
  • B. Capital goods
  • C. Consumer good
  • D. Personal good
9 Who introduced indifference curves to explain consumer's beghavior
  • A. J.R Hicks
  • B. Marshall
  • C. Robbins
  • D. Adam Smith
10 To measure changes in purchasing power of money, we use
  • A. percentages
  • B. index numbers
  • C. averages
  • D. variables

Top Scorers of Economics Ics Part 1 English Medium Chapter 3 Online Test

F

Fatima Romel

Lahore20 - Mar - 2023

17/20
02 Mins 41 Sec
P

Pigeons Planet

Lahore08 - May - 2023

15/20
07 Mins 16 Sec
F

Fatima Romel

Lahore20 - Mar - 2023

13/20
05 Mins 11 Sec
N

Nadia Farooq

Lahore09 - Apr - 2023

10/20
03 Mins 10 Sec

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