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	According to the law of supply, there is relation in price and supply	A. Inverse B. Increasing C. Negative D. indirect
2	If the total expenditure of the consumer decreases due to decrease 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	Regarding time element, the normal price has types	A. One B. Two C. Three D. Four
4	The term demand in economics means:	A. Desire B. Purchasing C. Need D. Both (a) and (b)
5	Under certain conditions, slope of demand curve is	A. Negative B. Positive C. Zero D. Fixed
6	Unitary method for Elasticity of demand was presented by:	A. Marshall B. Keynes C. Robbins D. Adam smith
7	Which combination of the following is of joint demand	A. Tea and coffee B. Petrol and car C. Meat and grocery D. Inkpot and book
8	If price of a commodity remains constant but its supply decreases or price increases but supply remains constant, it is called	A. Rise of supply B. Extension of supply C. Fall of supply D. Contraction of supply
9	Unitary method is also known as:	A. Total revenue B. Total satisfaction C. Total utility D. Total expenditure
10	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

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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

When there is a very small change in demand and price of a commodity, it is called

Another name of unitary method is

When supply changes due to other factors besides price, it is called

Quantity of a commodity which the consumers are ready to purchase at a particular price, is called

Supply of perishable goods e.g. groceries, fruit, meat etc is

Unity method to measure elasticity of demand was presented by

If the ratio of change in demand is less than the ratio of change in price, elasticity of demand will be

Under certain conditions, slope of demand curve is

If supply increase due to increase in price, it is called

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

Supply of durable goods is

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

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

Vertical supply curve means

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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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