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 total expenditure of the consumer increases due to decrease in price, then nature of elasticity of demand will be	A. Equal to unity B. Less than unity C. More than unity D. Elasticity of demand = zero
2	If demand decreases by 5% due to 10% increase in Price, then elasticity of demand is	A. Equal to unity B. More than unity C. Less than unity D. Zero
3	Relationship between price of a commodity and demand for it exists	A. Positive B. Inverse C. Indirect D. None of these
4	Relationship between price and quantity demanded is called	A. Demand schedule B. Demand curve C. Law of demand D. Assumptions of law of demand
5	When supply increases due to other factors besides price, it is called	A. Extension of supply B. Contraction of supply C. Rise of supply D. Fall of supply
6	If elasticity of supply is less than unity then extending supply curve downward, it passes through or crosses	A. y-axis B. x-axis C. Point of origin D. Becomes vertical
7	If demand curve is parallel to x-axis, then elasticity of demand is	A. Infinite B. Zero C. Equal to unity D. More than unity
8	Which one of the following is not included in the assumptions of law of supply	A. taste of consumer B. cost of production C. Methods of production D. price of raw material
9	The demand curve slopes	A. upwards B. Horizontal C. vertical D. downward to the right
10	The term demand in economics means:	A. Desire B. Purchasing C. Need D. Both (a) and (b)

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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

Demand for Giffen goods is:

If quantity demanded for a commodity changes due to the change in income, it is called

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

When there is big change in demand and price of a commodity, it is called

Stock means the quantity of a commodity

If the ratio of change in demand is less than the ratio of change in price, elasticity of demand will be

The cause of shifting of supply curve is

If supply rises more proportionately than that of demand, then

If there is slight change in price and demand, it is called

If demand curve is parallel to y-axis, then elasticity of demand is

A slight change in demand and price is called:

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

If demand is not influenced by the changes in price, elasticity of demand will be

Demand for the commodities having different uses

Rise of supply can be shown with the help of

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 11

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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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