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

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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

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

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

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Question # 1

Demand for luxuries in

Les elastic A
More elastic B
Perfectly elastic C
Perfectly inelastic D

Question # 2

If two goods are substitute, cross Elasticity of demand will be:

Zero A
Infinite B
Positive C
Negative D

Question # 3

Measurement of arc elasticity of demand was present:

Keynes A
Marshall B
Adam smith C
R.G.D Allen D

Question # 4

Demand for the goods which have different uses, is

More elastic A
Less elastic B
Infinity C
Zero elastic D

Question # 5

Slope of demand curve is

Negative A
Positive B
zero C
fixed D

Question # 6

With an increase in the price of any good its substitutes will have

a fall in its price A
an increase in its prices B
an increase in its demand C
a decrease in its price D

Question # 7

Supply of perishable goods e.g. groceries, fruit, meat etc is

Less elastic A
More elastic B
Perfectly inelastic C
Perfectly elastic D

Question # 8

In order to satisfy some wants, more than one commodities are needed. Demand for such commodities is called

Joint demand A
Composite demand B
Derived demand C
Direct demand D

Question # 9

Usually market price is ____________ normal price

Equal to A
Less than B
More than C
None of these D

Question # 10

The goods on which law of demand does not apply, are called

Services A
Goods and services B
Giffin goods C
Capital goods D

Question # 11

Cause of shifting of supply curve is

Change in price A
Other factors B
Change in tax C
Change in income D

Question # 12

Slope of demand curve of exceptions of law of demand is

Negative A
Positive B
Zero C
Fixed D

Question # 13

If demand for commodity X changes due to the change in price of commodity, it is called

Cross elasticity A
Price elasticity B
Income elasticity C
Arc elasticity D

Question # 14

The rate of change in Qd due to change in price is called:

Rise in demand A
Income Elasticity of demand B
Price Elasticity of demand C
Cross Elasticity of demand D

Question # 15

The goods which are jointly demanded are called:

Substitute goods A
Complimentary goods B
Alternative goods C
None of these D

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Prin. of Economics

3rd Chapter

11th Principle of Economics Chapter 3 Test

Here you can prepare 11th Principle of Economics English Medium Chapter 3 Demand and Supply Test. Click the button for 100% free full practice test.

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Chapter 1

Chapter 2

Chapter 3

Chapter 4

Chapter 5

Chapter 6

Chapter 7

Chapter 8

Chapter 9

Chapter 10

Chapter 11

Chapter 12

Chapter 13

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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

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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

Demand for luxuries in

If two goods are substitute, cross Elasticity of demand will be:

Measurement of arc elasticity of demand was present:

Demand for the goods which have different uses, is

Slope of demand curve is

With an increase in the price of any good its substitutes will have

Supply of perishable goods e.g. groceries, fruit, meat etc is

In order to satisfy some wants, more than one commodities are needed. Demand for such commodities is called

Usually market price is ____________ normal price

The goods on which law of demand does not apply, are called

Cause of shifting of supply curve is

Slope of demand curve of exceptions of law of demand is

If demand for commodity X changes due to the change in price of commodity, it is called

The rate of change in Qd due to change in price is called:

The goods which are jointly demanded are called:

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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Set 5

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Set 8

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11th Principle of Economics Chapter 3 Test

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