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	Elasticity of supply if perishable goods is	A. Equal to unity B. More than unity C. Less than unity D. Zero
2	The goods which can be used in place of each other, are called	A. Complimentary goods B. Substitute goods C. Alternative goods D. Jointly demanded goods
3	A big change in demand and price is called:	A. PointElasticity of demand B. ArcElasticity of demand C. CrossElasticity of demand D. PriceElasticity of demand
4	Cause of shifting of supply curve is	A. Change in price B. Other factors C. Change in tax D. Change in income
5	Relationship between price of a commodity and demand for it exists	A. Positive B. Inverse C. Indirect D. None of these
6	Regarding time element, the normal price has types	A. One B. Two C. Three D. Four
7	Flux method is also known as:	A. Percentage method B. Unitary method C. Total expenditure method D. All of them
8	Movement on the same demand curve is called:	A. Increase is demand B. Rise and fall in demand C. Decrease in demand D. Expansions and contraction in demand
9	Slope of demand curve is	A. Negative B. Positive C. zero D. fixed
10	When supply changes due to other factors besides price, it is called	A. Rise of supply B. Fall of supply C. Rise and fall of supply D. Extension and contraction of supply

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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

Which combination of the following is of joint demand

If demand rises more proportionately than that of supply, then

If supply is fixed then due to fall of demand

Which one of the following is not included in the assumptions of law of supply

If the total expenditure of the consumer does not change due to increase or decrease (change) in price, then nature of elasticity of demand will be

If total expenditure of the consumer increases due to decrease in price, then nature of elasticity of demand will be

In case of rise in demand, demand curve shifts:

Supply means

If 50% change in demand in reposne of 50% change in price then:

According to law of demand, curve moves from left to right downward. This type of tendency is called

According to law of supply, supply curve moves from left to right upward, this tendency is called

When demand and supply rise equally then equilibrium price

If quantity demand changes due to the change in income, it is called:

If the rate of change in price and quantity demand is in equal ratio, then Elasticity of demand is:

Supply of goods depends on

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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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