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	Slope of demand curve of exceptions of law of demand is	A. Negative B. Positive C. Zero D. Fixed
2	Flux method is also known as:	A. Percentage method B. Unitary method C. Total expenditure method D. All of them
3	Who did present unity method to measure elasticity of demand	A. Adam Smith B. Marshall C. Robbins D. keynes
4	The goods on which law of demand does not apply, are called	A. Services B. Goods and services C. Giffin goods D. Capital goods
5	In which direction demand and supply curves move	A. Same B. Opposite C. parallel D. Horizontal
6	If same amount of good is supplied at higher price, it is called	A. Expansion of supply B. Contraction of supply C. Fall in supply D. Rise in supply
7	Elasticity of supply if perishable goods is	A. Equal to unity B. More than unity C. Less than unity D. Zero
8	A slight change in demand and price is called:	A. Point Elasticity of demand B. ArcElasticity of demand C. CrossElasticity of demand D. PriceElasticity of demand
9	If supply does not change, then due to rise of demand	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity decreases
10	At equilibrium price, demand and supply	A. Increase B. Become equal C. Decrease D. are different

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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

Stock means the quantity of a commodity

If due to a very slight decrease in price, demand goes on increasing, elasticity of demand will be

Who did present unity method to measure elasticity of demand

If price of a commodity constant but its supply increases or price decreases but supply remains constant, it is called

If demand rises more proportionately than that of supply, then

Under certain conditions, slope of demand curve is

The term demand in economics means:

The price at which quantity demanded and supplied are equal

Movement on the same demand curve is called:

Income elasticity of demand is concerned with

When demand curve shifts rightward (or upward), it is called

According to law of supply which factor changes the supply

Which combination of the following is of joint demand

Demand for the commodities having different uses

When demand and supply rise equally then equilibrium price

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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