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Online Tests
Economics Ics Part 1 English Medium Chapter 3 Online Test MCQs With Answers
Question # 1
This is a tool in economic studies
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market
price
firm
functional relation
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Question # 2
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 # 3
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 # 4
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 # 5
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 # 6
Which is the general form of quadratic equation
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x
2
-x-20 = 0
ax
2
+bx +c = 0
x
2
- x -c =0
None of these
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Question # 7
The talent of a professor is .
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National wealth
International wealth
Personal wealth
Non of them
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Question # 8
Total utility is maximised when.
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Marginal utility is zero
Marginal utility falls
Marginal utility rises
Non of the above
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Question # 9
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 # 10
3x
2
=0 is an equation
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linear
quadratic
general
first degree
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Question # 11
How many kinds of Function
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2
3
4
5
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Question # 12
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 # 13
To measure changes in purchasing power of money, we use
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percentages
index numbers
averages
variables
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Question # 14
The first law of consumption was presented by.
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Robert Malthus
Loinel Robbins
Alfred Marshall
Pareto
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Question # 15
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 # 16
A bridge will be a
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Private good
Capital goods
Consumer good
Personal good
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Question # 17
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 # 18
According to law of equi-marginal utility a consumer will maximises his total utility when
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He spends all his income on the product only
He spends more on one and less on the other
Marginal utility of the two goods are equalised
Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.
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Question # 19
How many kinds of data?
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2
3
4
5
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