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

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

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Zeeshan Haider 02 - Jul - 2024 00 Min 10 Sec 15/15
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Shad Ali Shah 31 - Jul - 2024 04 Min 23 Sec 13/15
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Subtain Ahmed Raza 21 - Jul - 2023 04 Min 19 Sec 12/15
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ayesha ayaz 22 - Jul - 2022 01 Min 57 Sec 10/15
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Noor fatima Kashif 01 - Sep - 2022 05 Min 10 Sec 9/15

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

Sr.#	Question	Answer
1	The goods on which law of demand does not apply, are called	A. Services B. Goods and services C. Giffin goods D. Capital goods
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	If supply decreases due to decrease in price, it is called	A. Extension of supply B. Contraction of supply C. Rise of supply D. Fall of supply
4	Cause of shifting of demand curve is	A. Change in price B. Desire C. Other factors D. Exceptions
5	The cause of shifting of supply curve is	A. Change in price B. Other factors C. change in serving D. change in demand
6	Elasticity of demand for luxuries is	A. Equal to unity B. More than unity C. Less than unity D. Zero
7	The cause of extension and contraction of demand is	A. Income B. Price C. Population D. Technology
8	Some inferior goods having expensive substitutes are known as:	A. Economic goods B. Giffen goods C. Non-economic goods D. Free goods
9	If the percentage change in supply is more than the percentage change in price, then elasticity of supply is called	A. Equal to unity B. Less than unity C. More than unity D. Infinite
10	When demand curve shifts leftward (or downward), it is called	A. Rise of demand B. Fall of demand C. Extension of demand D. Contraction of demand

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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

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

A big change in demand and price is called:

Under certain conditions, slope of demand curve is

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

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

In case of rise in demand, demand curve shifts:

Shape of market supply curve is

If demand for a commodity changes due to change in price of its substitute, it is called

When supply curve shifts leftwards or up, it is called

If supply of a commodity is fixed, it is called

What is meant by demand for a commodity in economics

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

Demand for luxuries in

Quickly destroyable goods are called

If demand changes by 10% due to 10% change in price, then elasticity of demand is 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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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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