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	If the ratio of change in demand is less than the ratio of change in price, elasticity of demand will be	A. More than unity B. Less than unity C. Equal to unity D. Zero
2	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	A. Equal to unity B. Less than unity C. More than unity D. Elasticity of demand = zero
3	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
4	A slight change in demand and price is called:	A. Point Elasticity of demand B. ArcElasticity of demand C. CrossElasticity of demand D. PriceElasticity of demand
5	The quantity of commodity which exists in warehouse (stock) of the seller is called	A. Supply B. Demand C. Stock D. All of these
6	The cause of rise and fall of demand is	A. income B. price C. population D. Both 1st and 3rd
7	Unity method to measure elasticity of supply is presented by	A. Adam Smith B. Robbins C. Marshall D. Faruson
8	If due to a very slight decrease in price, demand goes on increasing, elasticity of demand will be	A. More than unity B. Less than unity C. Infinite D. Zero
9	Slope of demand curve of exceptions of law of demand is	A. Negative B. Positive C. Zero D. Fixed
10	If same amount of good is supplied at higher price, it is called	A. Expansion of supply B. Contraction of supply C. Fall in supply D. Rise in supply

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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

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

The demand curve slopes

Due to rise in demand, demand curve shifts to

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

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

Elasticity of supply is the name of

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

If demand is not influenced by the changes in price, elasticity of demand will be

Quickly destroyable goods are called

That particular price below which price the seller is not ready to sell his commodity, is called

Which one is not condition of perfect competition

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

If the rate of change in price and quantity demand is in equal ratio, then Elasticity of demand is:

Demand for the commodities whose use can be postponed is

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

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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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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