Question # 1

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

Choose an answer

MU_a = MP_a

MU_a = AU_a

MU_a = TC_a

MU_a = P_a

Variable are represented by symbol

Choose an answer

V

U

P

C

Initial utility of a product is :

Choose an answer

Highest

Lowest

Conatant

None of them

To show data in tables, we must first

Choose an answer

reduce data

expand data

classify data

all of the above

Which is the general form of quadratic equation

Choose an answer

x²-x-20 = 0

ax²+bx +c = 0

x²- x -c =0

None of these

How many kinds of data?

Choose an answer

2

3

4

5

Law of diminishing marginal utility provides basis for:

Choose an answer

Law of demand

Law of supply

Laws of returns

Law of variable proportions

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

Choose an answer

20

3

20/3

Indeterminate

This is a tool in economic studies

Choose an answer

market

price

firm

functional relation

The first law of consumption was presented by.

Choose an answer

Robert Malthus

Loinel Robbins

Alfred Marshall

Pareto

Constant are represented by symbol

Choose an answer

C

V

P

U

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

Choose an answer

neutral

positive

independent

dependent

The talent of a professor is .

Choose an answer

National wealth

International wealth

Personal wealth

Non 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

Law of equimarginal utility is also called.

Choose an answer

Law of substitution

Law of maximum social benefits

Law of economy

Law of maximum satisfaction

A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.

Choose an answer

Negatively slop curve

An indifference curve

Positively sloped Curve

None of the above

Who introduced indifference curves to explain consumer's beghavior

Choose an answer

J.R Hicks

Marshall

Robbins

Adam Smith

Marginal utility of a product is the utility obtained by consuming.

Choose an answer

First unit of consummption

Each additional unit of consumption

Last unit of consumption

None of the them

3x²=0 is an equation

Choose an answer

linear

quadratic

general

first degree

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