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

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Shad Ali Shah 31 - Jul - 2024 04 Min 23 Sec 13/15
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Subtain Ahmed Raza 21 - Jul - 2023 04 Min 19 Sec 12/15
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Bilal zafar 07 - Jun - 2024 03 Min 59 Sec 9/15
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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	Non elastic demand curve is	A. positive B. negative C. vertical D. horizontal
2	By increasing the cost of production, the supply	A. Extends B. contracts C. Falls D. Rises
3	If demand does not change, then due to fall of supply	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium quantity increases
4	Demand for the commodities whose use can be postponed is	A. Less elastic B. More elastic C. Perfectly inelastic D. infinitely elastic
5	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
6	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
7	Supply of goods depends upon	A. Price B. Income C. Price and income D. Utility
8	If demand changes by more than 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
9	Some inferior goods having expensive substitutes are known as:	A. Economic goods B. Giffen goods C. Non-economic goods D. Free goods
10	If total expenditure of the consumer decreases due to increase 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

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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

Regarding time element, the normal price has types

Increasing function of price is

Who did present formula to measure Arc elasticity of demand

If the ratio of change in demand is equal to the ratio of change in price, elasticity of demand will be

Demand for luxuries in

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

If quantity demanded for a commodity changes due to the change in income, it is called

If demand falls more proportionately then that of supply then

Cause of positive slope of supply curve

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

Supply curve moves from left to right upward, this tendency is called

If demand decreases by 5% due to 10% increase in Price, then elasticity of demand is

The goods which are jointly demanded are called:

The goods which can be used in place of each other, are called

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

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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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