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Online Tests
Economics Ics Part 1 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
How many kinds of data?
Choose an answer
2
3
4
5
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Question # 2
The maintain social status in life, a person requires.
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Bare necessities of life
Comforts of life
Luxuries of life
All of them
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Question # 3
Law of equi marginal utility provides basis for.
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Equal distribution of wealth
Economy in taxation
Law of diminishing returns
Law of constant returns
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Question # 4
How many kinds of Function
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2
3
4
5
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Question # 5
How many Kinds of variables?
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There are many kinds of variables
There are 2 kinds of variables
There are 3 kinds of variables
There are 4 kinds of variables
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Question # 6
Variable are represented by symbol
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V
U
P
C
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Question # 7
To show data in tables, we must first
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reduce data
expand data
classify data
all of the above
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Question # 8
According to law of diminishing marginal utilities , a consumer maximises his total utility where.
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MU
a
= MP
a
MU
a
= AU
a
MU
a
= TC
a
MU
a
= P
a
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Question # 9
Initial utility of a product is :
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Highest
Lowest
Conatant
None of them
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Question # 10
A statement of how one variable affects other variable is
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a quadrant
a variable
an assumption
a functional relationship
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Question # 11
In mathematics which letters at the end of alphabet are used to represent variables
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(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)
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Question # 12
if X and Y scales are the same a line making 45-degree angle with X-axis has slope
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1/4
1/2
1
constant
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Question # 13
A bridge will be a
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Private good
Capital goods
Consumer good
Personal good
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Question # 14
The relationship between two variables that move in the same direction is called
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neutral
positive
independent
dependent
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Question # 15
Constant are represented by symbol
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C
V
P
U
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Question # 16
Who introduced indifference curves to explain consumer's beghavior
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J.R Hicks
Marshall
Robbins
Adam Smith
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Question # 17
If we plot the equation y = 20 +3x, its slope is
Choose an answer
20
3
20/3
Indeterminate
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Question # 18
A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.
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Negatively slop curve
An indifference curve
Positively sloped Curve
None of the above
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Question # 19
When marginal utility of a product is zero its total utility will be.
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Increase
Decreasing
Maximum
Constant
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