Question # 1

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

Choose an answer

Statistics

Economics analysis

Function

None of these

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

Choose an answer

neutral

positive

independent

dependent

Total utility is maximised when.

Choose an answer

Marginal utility is zero

Marginal utility falls

Marginal utility rises

Non of the above

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

Choose an answer

Increase

Decreasing

Maximum

Constant

A statement of how one variable affects other variable is

Choose an answer

a quadrant

a variable

an assumption

a functional relationship

Initial utility of a product is :

Choose an answer

Highest

Lowest

Conatant

None of them

Law of equi marginal utility provides basis for.

Choose an answer

Equal distribution of wealth

Economy in taxation

Law of diminishing returns

Law of constant returns

One of the following is not an exception to the law of diminishing marginal utility .

Choose an answer

Money

Knowledge

Music

Non of them

The utility of an additional unit of a product is

Choose an answer

Law of demand

Law of substitution

Law of supply

Law of diminishing marginal utility

Variable are represented by symbol

Choose an answer

V

U

P

C

How many kinds of data?

Choose an answer

2

3

4

5

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

Choose an answer

(u,v,w,x,y,z)

(a,b.c.d.e.f.g)

(a.b.c.u.v.w)

((x,y,z,a,b,c)

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

Choose an answer

Nature of the product should not changed

Mental condition of the consumer

Income of the consumer should not changed

None of the three

Constant are represented by symbol

Choose an answer

C

V

P

U

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

Choose an answer

20

3

20/3

Indeterminate

3x²=0 is an equation

Choose an answer

linear

quadratic

general

first degree

Law of diminishing marginal utility provides basis for:

Choose an answer

Law of demand

Law of supply

Laws of returns

Law of variable proportions

A bridge will be a

Choose an answer

Private good

Capital goods

Consumer good

Personal good

How many Kinds of variables?

Choose an answer

There are many kinds of variables

There are 2 kinds of variables

There are 3 kinds of variables

There are 4 kinds of variables

More Classes

Other Links

Economics Ics Part 1 English Medium Chapter 3 Online Test MCQs With Answers

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer