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

Sr.#	Question	Answer
1	If supply is fixed then due to fall of demand	A. Equilibrium price decreases B. Equilibrium quantity increases C. Equilibrium price increases D. Equilibrium price does not change
2	Elasticity of supply if perishable goods is	A. Equal to unity B. More than unity C. Less than unity D. Zero
3	Unitary method is also known as:	A. Total revenue B. Total satisfaction C. Total utility D. Total expenditure
4	Slope of demand curve is	A. Negative B. Positive C. zero D. fixed
5	If quantity demand changes due to the change in income, it is called:	A. Point Elasticity of demand B. Arc Elasticity of demand C. Income Elasticity of demand D. Price Elasticity of demand
6	Who did present unity method to measure elasticity of demand	A. Adam Smith B. Marshall C. Robbins D. keynes
7	Elasticity of demand for the commodities which have substitutes, is	A. More elastic B. Less elastic C. Infinite D. Zero
8	The duty of a market is not to	A. make exchange of goods B. contact buyers and sellers C. determine price D. give maximum output
9	Supply of perishable goods is	A. More elastic B. less elastic C. Perfectly inelastic D. infinite elasticity of supply
10	If the ratio of change in demand is less than the ratio of change in price, elasticity of demand will be	A. More than unity B. Less than unity C. Equal to unity D. Zero

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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

Supply of perishable goods is

Market price will be determined where

If supply increase due to increase in price, it is called

Due to rise in demand, demand curve shifts to

If demand does not change, then due to fall of supply

The duty of a market is not to

If demand decreases by 15% due to 10% increase in Price, then elasticity of demand is

Unity method to measure elasticity of supply is presented by

Rise of supply can be shown with the help of

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

Degree of change in quantity supplied due to change in price is called

The equilibrium of the market is that demand and supply to each other are

Finance minister in order to increase the public revenue, imposes tax on the commodities whose demand is less elastic

Demand for the commodities whose use can be postponed is

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

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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