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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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	Equilibrium means	A. the condition that is not possible B. an unstable condition C. a condition that can change D. stable position
2	The supply curve of Fish is	A. More elastic B. Less elastic C. Inelastic D. Infinite elastic
3	Market price will be determined where	A. Supply is more than demand B. Demand is more than supply C. Demand and supply are equal D. Demand is less elastic and supply is more elastic
4	The equilibrium of the market is that demand and supply to each other are	A. opposite B. positive C. equal D. negative
5	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	A. Equal to unity B. Less than unity C. More than unity D. Elasticity of demand = zero
6	When demand and supply rise equally then equilibrium price	A. isles B. is more C. Remains the source D. Zero
7	Cause of shifting of supply curve is	A. Change in price B. Other factors C. Change in tax D. Change in income
8	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
9	Due to fall in demand, curve shifts to	A. Right B. Left C. Both sides D. None of these
10	What functional relationship is present between demand and price	A. positive B. inverse C. increasing D. none of these

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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

Formula method to measure elasticity of supply is related to

A slight change in demand and price is called:

If demand and supply both fall in the same proportion

Demand for luxuries goods is:

Quantity supplied of a commodity extends because

Some inferior goods having expensive substitutes are known as:

If the ratio of change in demand is equal to the ratio of change in price, elasticity of demand will be

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

When demand increases due to change in other factors it is known as:

If the total expenditure of the consumer decreases due to decrease in price, then nature of elasticity of demand will be

Market equilibrium is determined when

Unitary method for Elasticity of demand was presented by:

Intersection of demand and supply curve is called

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

Cause of positive slope of supply curve

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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