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	Regarding time element, the normal price has types	A. One B. Two C. Three D. Four
2	If demand falls more proportionately then that of supply then	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity increases
3	Non elastic demand curve is	A. positive B. negative C. vertical D. horizontal
4	Another name of unitary method is	A. Total satisfiaction method B. Total expenditure method C. Total revenue method D. Both 2nd and 3rd
5	Market equilibrium is attained when there exists in the market	A. Perfect competition B. Imperfect competition C. Monopoly D. Large quantity of commodity comes in the market
6	Price is determined under perfect competition	A. By sellers B. By buyers C. By government D. By forces of demand and supply
7	According to law of demand, curve moves from left to right downward. This type of tendency is called	A. Positive tendency B. Negative tendency C. Extension and contraction of demand D. Rise and fall of demand
8	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
9	Measurement of arc elasticity of demand was present:	A. Keynes B. Marshall C. Adam smith D. R.G.D Allen
10	Desire + Purchasing power is equal to:	A. Demand B. Supply C. Income D. Utility

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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

Kinds of supply according to period of time are

The price at which quantity demanded and supplied are equal

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

Supply of perishable goods is

The cause of extension and contraction of demand is

Regarding time element, the normal price has types

In order to satisfy some wants, more than one commodities are needed. Demand for such commodities is called

If demand decreases by 10% due to 10% increase in Price, then elasticity of demand is

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

If demand for a commodity changes due to change in price of its substitute, it is called

Due to fall in demand, curve shifts to

The demand curve slopes

If demand and supply both rise in the same proportion, then

In case of rise in demand, demand curve shifts:

Desire + Purchasing power is equal to:

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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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