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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
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"
Try The MCQ's Test For Chapter 3 "Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test
00:00
Question # 1
Slope of demand curve is
Question # 2
If two goods are complimentary, cross Elasticity of demand will be:
Question # 3
If demand does not change, then due to fall of supply
Question # 4
If 50% change in demand in response of 30% change in price then:
Question # 5
Shape of market supply curve is
Question # 6
Price and demand has a relationship:
Question # 7
When price decreases, supply
Question # 8
Which one of the following is not included in the assumptions of law of supply
Question # 9
If demand decreases by 15% due to 10% increase in Price, then elasticity of demand is
Question # 10
If supply decreases due to decrease in price, it is called
Question # 11
If due to a very slight decrease in price, demand goes on increasing, elasticity of demand will be
Question # 12
If supply rises more proportionately than that of demand, then
Question # 13
Which combination of the following is of joint demand
Question # 14
Formula method to measure elasticity of supply is related to
Question # 15
Supply of durable goods is
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 1
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Set 2
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Set 3
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Set 4
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Set 5
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Set 6
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Set 7
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Set 8
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Set 9
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Set 10
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Set 11
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Set 12
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Set 13
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11th Principle of Economics Chapter 3 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 3 Demand and Supply Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 3 "Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test" MCQ`s Test
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ICom Part 1 Principles of Economics ( English Medium) Chapter 3 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If demand for a commodity changes due to change in price of its substitute, it is called |
A. Price elasticity
B. Point elasticity
C. Cross elasticity
D. Arc elasticity
|
| 2 | Rise of supply can be shown with the help of |
A. A supply curve
B. More than one supply curves
C. Fixed supply curve
D. Vertical supply curve
|
| 3 | If supply curve is horizontal (parallel to x-axis) then elasticity of supply is |
A. Zero
B. Infinite
C. Equal to unity
D. More than unity
|
| 4 | The cause of shifting of supply curve is |
A. Change in price
B. Other factors
C. change in serving
D. change in demand
|
| 5 | 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
|
| 6 | Supply of goods depends upon |
A. Price
B. Income
C. Price and income
D. Utility
|
| 7 | Demand for Giffen goods is: |
A. Negative
B. Vertical
C. Positive
D. All of them
|
| 8 | The demand curve slopes |
A. upwards
B. Horizontal
C. vertical
D. downward to the right
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| 9 | 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
|
| 10 | Non elastic demand curve is |
A. positive
B. negative
C. vertical
D. horizontal
|
Test Questions
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