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 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
2	Demand for the commodities having different uses	A. Less elastic B. More elastic C. Perfectly inelastic D. Infinitely elastic
3	Income elasticity of demand is concerned with	A. Income and consumption of wealth B. Income and demand for good C. Price and income of the consumer D. Price and demand for good
4	Vertical supply curve means	A. Same quantity supplied at differented price B. Different quantities supplied at one price C. Different quantities supplied at different prices D. None of three
5	Relationship between price of a commodity and demand for it exists	A. Positive B. Inverse C. Indirect D. None of these
6	Due to rise in demand, demand curve shifts to	A. Right B. Left C. Both sides D. None of these
7	Supply curve shifts due to better technique of production	A. Rightward B. Leftward C. Does not change D. Vertical
8	A big change in demand and price is called:	A. PointElasticity of demand B. ArcElasticity of demand C. CrossElasticity of demand D. PriceElasticity of demand
9	The demand curve slopes	A. upwards B. Horizontal C. vertical D. downward to the right
10	Second name of unitary method is	A. Method of total satisfication B. total expenditure method C. total revenue method D. Both 2nd and 3rd

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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 demand changes by more than 10% due to 10% change in price, then elasticity of demand is called

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

Relationship between price and quantity demanded is called

Unity method to measure elasticity of demand was presented by

When demand curve shifts leftward (or downward), it is called

Unitary method is also known as:

A slight change in demand and price is called:

Another name of unitary method is

If demand curve is parallel to x-axis, then elasticity of demand is

Some inferior goods having expensive substitutes are known as:

In case of fall in demand, demand curve shifts:

Reserve price of a commodity is that price

Formula method to measure elasticity of supply is related to

Flux method is also known as:

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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