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	Which combination of the following is of joint demand	A. Tea and coffee B. Petrol and car C. Meat and grocery D. Inkpot and book
2	Unitary method for Elasticity of demand was presented by:	A. Marshall B. Keynes C. Robbins D. Adam smith
3	Unitary method is also known as:	A. Total revenue B. Total satisfaction C. Total utility D. Total expenditure
4	The price at which quantity demanded and supplied are equal	A. Equilibrium price B. Reserve price C. Fixed price D. Variable price
5	The quantity of commodity which exists in warehouse (stock) of the seller is called	A. Supply B. Demand C. Stock D. All of these
6	Usually market price is ____________ normal price	A. Equal to B. Less than C. More than D. None of these
7	If supply rises more proportionately than that of demand, then	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity decreases
8	Supply curve shifts due to better technique of production	A. Rightward B. Leftward C. Does not change D. Vertical
9	Supply curve moves from left to right upward, this tendency is called	A. Negative B. Positive C. Horizontal D. Vertical
10	Slope of demand curve of exceptions of law of demand is	A. Negative B. Positive C. Zero D. Fixed

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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

Cause of movement along the supply curve is

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

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

Demand for a commodity means

Second name of unitary method is

Reserve price of a commodity is that price

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

Elasticity of demand for durable goods is

If supply curve is vertical (parallel to y-axis), then elasticity of supply is

Who did present unity method to measure elasticity of demand

If same amount of good is supplied at higher price, it is called

Demand for luxuries in

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

When demand curve shifts leftward (or downward), it is called

If elasticity of supply is less than unity then extending supply curve downward, it passes through or crosses

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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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