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	In which direction demand and supply curves move	A. Same B. Opposite C. parallel D. Horizontal
2	Demand for Giffen goods is:	A. Negative B. Vertical C. Positive D. All of them
3	When demand and supply rise equally then equilibrium price	A. isles B. is more C. Remains the source D. Zero
4	If supply increase due to increase in price, it is called	A. Extension of supply B. Contraction of supply C. Rise of supply D. Fall of supply
5	Who does determine the reserve price	A. Buyer B. Seller C. Government D. District adminitration
6	When price decreases, supply	A. Extends B. Contracts C. Becomes zero D. Remains fixed
7	Price of perishable goods is determined	A. In the market period B. In the short period C. In the middle period D. In the long period
8	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
9	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
10	When demand curve shifts leftward (or downward), it is called	A. Rise of demand B. Fall of demand C. Extension of demand D. Contraction of demand

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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

Measurement of arc elasticity of demand was present:

Increasing function of price is

Market equilibrium is attained when there exists in the market

Another name of unitary method is

Supply curve shifts due to better technique of production

If supply curve is vertical (parallel to y-axis), then elasticity of supply is

Unity method to measure elasticity of supply is presented by

When price of a commodity decreases but its demand does not change, this situation is called

If there is big change in Price and demand, it is called

Exceptions, or limitations of law of demand have been stated by

Elasticity of demand for the commodities which have substitutes, is

If supply goes on increasing due to a slight increase in price, then elasticity of supply is called

Intersection of demand and supply curve is called

If demand falls more proportionately then that of supply then

The demand curve slopes

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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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