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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Asif Iqbal 20 - Apr - 2023 04 Min 05 Sec 9/15
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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	The goods which are jointly demanded to satisfy a want, are called	A. Complimentary goods B. Substitute goods C. Alternative goods D. inferior goods
2	In which direction demand and supply curves move	A. Same B. Opposite C. parallel D. Horizontal
3	Demand for good like Television and VCR is	A. Less elastic B. More elastic C. Perfectly inelastic D. Infinitely elastic
4	Market price will be determined where	A. Supply is more than demand B. Demand is more than supply C. Demand and supply are equal D. Demand is less elastic and supply is more elastic
5	Supply curve shifts due to better technique of production	A. Rightward B. Leftward C. Does not change D. Vertical
6	When demand curve shifts rightward (or upward), it is called	A. Rise of demand B. Fall of demand C. Extension of demand D. Contraction of demand
7	Supply of goods depends on	A. price B. income C. income and price D. utility
8	Elasticity of supply if perishable goods is	A. Equal to unity B. More than unity C. Less than unity D. Zero
9	That particular price below which price the seller is not ready to sell his commodity, is called	A. Market price B. Normal price C. Reserve price D. All the three
10	If quantity demanded for a commodity changes due to the change in income, it is called	A. Price elasticity B. Point elasticity C. Cross elasticity D. Income elasticity

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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

If the total expenditure of the consumer increases due to increase in price, then nature of elasticity of demand will be

If supply of a commodity changes by 10% due to 10% change in its price, then elasticity of supply will be

If demand and supply both fall in the same proportion

Intersection of demand and supply curve is called

Quickly destroyable goods are called

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

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

If supply decreases due to decrease in price, it is called

Stock means the quantity of a commodity

Supply of goods depends on

Kinds of supply according to period of time are

Finance minister imposes tax on the goods having more elastic demand

Relationship between price and quantity demanded is called

If demand decreases by 15% due to 10% increase in Price, then elasticity of demand is

Which combination of the following is of joint demand

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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Set 4

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Set 10

Set 11

Set 12

Set 13

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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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