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

ayesha ayaz 22 - Jul - 2022 01 Min 57 Sec 10/15
A

Angle Jasmine 04 - May - 2024 02 Min 39 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
N

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	Supply of perishable goods e.g. groceries, fruit, meat etc is	A. Less elastic B. More elastic C. Perfectly inelastic D. Perfectly elastic
2	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
3	Usually market price is ____________ normal price	A. Equal to B. Less than C. More than D. None of these
4	When price decreases, supply	A. Extends B. Contracts C. Becomes zero D. Remains fixed
5	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
6	Demand for Giffen goods is:	A. Negative B. Vertical C. Positive D. All of them
7	Movement on the same demand curve is called:	A. Increase is demand B. Rise and fall in demand C. Decrease in demand D. Expansions and contraction in demand
8	If demand decreases by 10% 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
9	If supply rises more proportionately than that of demand, then	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity decreases
10	Quantity of a commodity offered for sale in a market at a certain price during a given period of time, is called	A. Stock B. Demand C. Supply D. Quantity demanded

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

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

Formula method to measure elasticity of supply is related to

If supply rises more proportionately than that of demand, then

According to law of supply, supply curve moves from left to right upward, this tendency is called

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

The price at which quantity demanded and supplied are equal

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

Quantity supplied of a commodity extends because

Finance minister imposes tax on the goods having more elastic demand

Supply means

If supply curve is horizontal (parallel to x-axis) then elasticity of supply is

Elasticity of demand for luxuries is

Demand for luxuries goods is:

If demand changes by 10% due to 10% change in price, then elasticity of demand is called

One of the following is not substitute good:

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?

Share your comments & questions here