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

Z

Zeeshan Haider 02 - Jul - 2024 00 Min 10 Sec 15/15
S

Shad Ali Shah 31 - Jul - 2024 04 Min 23 Sec 13/15
S

Subtain Ahmed Raza 21 - Jul - 2023 04 Min 19 Sec 12/15
U

Unknown 20 - Jul - 2023 02 Min 05 Sec 11/15
S

Sania Butt 01 - Jun - 2024 04 Min 51 Sec 11/15
R

Rèhab Khan 31 - Aug - 2023 10 Min 01 Sec 11/15
A

Angle Jasmine 04 - May - 2024 02 Min 39 Sec 10/15
A

Abubaker 13 - Mar - 2026 03 Min 08 Sec 10/15
F

fatima raja 26 - Nov - 2023 03 Min 15 Sec 10/15
S

Subhan Baig 20 - Jul - 2024 03 Min 57 Sec 10/15
A

Abeeha aslam 07 - Jun - 2024 02 Min 30 Sec 9/15
S

Sabeeka Fatima 18 - Mar - 2023 03 Min 19 Sec 9/15
B

Bilal zafar 07 - Jun - 2024 03 Min 59 Sec 9/15
A

Asif Iqbal 20 - Apr - 2023 04 Min 05 Sec 9/15
M

Minahil Asif 04 - Jun - 2024 01 Min 46 Sec 8/15

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

Sr.#	Question	Answer
1	If there is slight change in price and demand, it is called	A. Arc elasticity B. Point elasticity C. Income elasticity D. Cross elasticity
2	If demand does not change, despite a fall in price, is called	A. Fall of demand B. Rise of demand C. Contraction of demand D. Extension of demand
3	When supply curve shifts leftwards or up, it is called	A. Rise of supply B. Fall of supply C. Extension of supply D. Contraction of supply
4	When supply curve shifts rightward or down it is called	A. Rise of supply B. Fall of supply C. Extension of supply D. Contraction of supply
5	According to law of supply, supply curve moves from left to right upward, this tendency is called	A. Positive B. Negative C. Horizontal D. Vertical
6	If 50% change in demand in response of 30% change in price then:	A. Elasticity of demand = 1 B. Elasticity of demand < 1 C. Elasticity of demand > 1 D. Elasticity of demand = 0
7	If demand curve is parallel to y-axis, then elasticity of demand is	A. Equal to unity B. More than unity C. Less than unity D. Zero
8	If demand does not change, then due to rise of supply	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity decreases
9	If price of a commodity constant but its supply increases or price decreases but supply remains constant, it is called	A. Rise of supply B. Fall of supply C. Extension of supply D. Contraction of supply
10	If demand changes by 10% due to 10% change in price, then elasticity of demand is called	A. Equal to unity B. More than unity C. Less than unity D. Infinite

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

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

Market equilibrium is determined when

A textile mill produces 2000 meters cloth. Entrepreneur offers 1500 meters cloth to sell at price Rs 100 per meter and 500 meters cloth keeps with him. Cloth kept by the entrepreneur is called

Finance minister imposes tax on the goods having more elastic demand

When demand for a commodity changes due to the change in price of some other commodity, it is called

Which one is increasing function of price

If the rate of change in price and quantity demand is in equal ratio, then Elasticity of demand is:

Price and demand has a relationship:

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

In which direction demand and supply curves move

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

Slope of demand curve is

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

Which one is not condition of perfect competition

Quantity supplied of a commodity extends because

When there are small and minor changes in price and demand then

Prepare Complete Set Wise Chapter 3 "Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test" MCQs Online With Answers

Set 1

Set 2

Set 3

Set 4

Set 5

Set 6

Set 7

Set 8

Set 9

Set 10

Set 11

Set 12

Set 13

Topic Test

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

Test Questions

Is this page helpful?