11th class Principles of Economics chapter 3 online mcq test with answers for I.Com part 1 Principles of Economics chapter 3(Demand and Supply)

This online test contains MCQs about following topics:

. Utility . Determinants of utility . Aspects of utility . Law of diminishing Marginal utility . Assunptions of law of diminishing marginal utility . Law of equi marginal utility . Limitations of law of equi marginal utility . Equilibrium of cosumer

ICOM Part 1 Economics Ch 3 Test

Start Economics Ch 3 Test

ICOM Part 1 English Medium Subjects

Principles of Accounting

Principles of Economics

Principles of Commerce

ICOM Part 1 Urdu Medium Subjects

Principles of Commerce

Principles of Economics

Principles of Accounting

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Minahil Asif 04 - Jun - 2024 01 Min 46 Sec 8/15

ICom Part 1 Principles of Economics ( English Medium) Chapter 3 Important MCQ's

Sr.#	Question	Answer
1	Market equilibrium is attained when there exists in the market	A. Perfect competition B. Imperfect competition C. Monopoly D. Large quantity of commodity comes in the market
2	Cause of shifting of demand curve is	A. Change in price B. Desire C. Other factors D. Exceptions
3	If supply does not change, then due to rise of demand	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity decreases
4	Supply curve shifts due to better technique of production	A. Rightward B. Leftward C. Does not change D. Vertical
5	In which direction demand and supply curves move	A. Same B. Opposite C. parallel D. Horizontal
6	Quantity of a commodity which a person is ready to purchase at a particular price, is called	A. Individual demand B. Market demand C. Supply D. Market Supply
7	If supply of a commodity changes by 10% due to 10% change in its price, then elasticity of supply will be	A. Equal to unity B. More than unity C. Less than unity D. Zero
8	Supply curve moves from left to right upward, this tendency is called	A. Negative B. Positive C. Horizontal D. Vertical
9	Who did present formula to measure Arc elasticity of demand	A. Adam Smith B. Marshall C. Allen D. Keynes
10	Flux method is also known as:	A. Percentage method B. Unitary method C. Total expenditure method D. All of them

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First Year Principles of Economics Chapter 3 Online MCQ Test for 1st Year Principles of Economics Chapter 3 (Demand and Supply)

ICOM Part 1 English Medium Subjects

ICOM Part 1 Urdu Medium Subjects

MCQ's Test For Chapter 3 "Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test"

Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test

If demand is not influenced by the changes in price, elasticity of demand will be

When supply changes due to other factors besides price, it is called

Unity method to measure elasticity of demand was presented by

Exceptions, or limitations of law of demand have been stated by

The quantity of commodity which exists in warehouse (stock) of the seller is called

Desire + Purchasing power is equal to:

If demand falls more proportionately then that of supply then

If demand curve is parallel to y-axis, then elasticity of demand is

If percentage change in supply is less than the percentage change in price, then elasticity of supply is called

Elasticity of demand for substitute and jointly demanded goods is called

Demand for the commodities having different uses

Quickly destroyable goods are called

If there is big change in Price and demand, it is called

Id demand changes by less than 10% due to 10% change in price, then elasticity of demand is called

If demand and supply both fall in the same proportion

Prepare Complete Set Wise Chapter 3 "Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test" MCQs Online With Answers

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11th Principle of Economics Chapter 3 Test

Top Scorers Of Chapter 3 "Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test" MCQ`s Test

ICom Part 1 Principles of Economics ( English Medium) Chapter 3 Important MCQ's

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