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Online Tests
Economics Ics Part 1 English Medium Chapter 3 Online Test MCQs With Answers
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
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Question # 2
Variable are represented by symbol
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V
U
P
C
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Question # 3
Initial utility of a product is :
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Highest
Lowest
Conatant
None of them
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Question # 4
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 # 5
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 # 6
How many kinds of data?
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2
3
4
5
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Question # 7
Law of diminishing marginal utility provides basis for:
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Law of demand
Law of supply
Laws of returns
Law of variable proportions
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Question # 8
If we plot the equation y = 20 +3x, its slope is
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20
3
20/3
Indeterminate
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Question # 9
This is a tool in economic studies
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market
price
firm
functional relation
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Question # 10
The first law of consumption was presented by.
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Robert Malthus
Loinel Robbins
Alfred Marshall
Pareto
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Question # 11
Constant are represented by symbol
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C
V
P
U
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Question # 12
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 # 13
The talent of a professor is .
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National wealth
International wealth
Personal wealth
Non of them
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Question # 14
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 # 15
Law of equimarginal utility is also called.
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Law of substitution
Law of maximum social benefits
Law of economy
Law of maximum satisfaction
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Question # 16
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 # 17
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 # 18
Marginal utility of a product is the utility obtained by consuming.
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First unit of consummption
Each additional unit of consumption
Last unit of consumption
None of the them
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Question # 19
3x
2
=0 is an equation
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linear
quadratic
general
first degree
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