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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Zeeshan Haider 02 - Jul - 2024 00 Min 10 Sec 15/15
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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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Noor fatima Kashif 01 - Sep - 2022 05 Min 10 Sec 9/15

ICom Part 1 Principles of Economics ( English Medium) Chapter 3 Important MCQ's

Sr.#	Question	Answer
1	If price of a commodity constant but its supply increases or price decreases but supply remains constant, it is called	A. Rise of supply B. Fall of supply C. Extension of supply D. Contraction of supply
2	The goods which can be used in place of each other, are called	A. Complimentary goods B. Substitute goods C. Alternative goods D. Jointly demanded goods
3	Stock means the quantity of a commodity	A. Which is offered for sale in the market B. Which is sold in the market C. Total production is called stock D. Which the seller keeps in his possession without selling
4	If demand curve is parallel to y-axis, then elasticity of demand is	A. Equal to unity B. More than unity C. Less than unity D. Zero
5	Slope of demand curve is	A. Negative B. Positive C. zero D. fixed
6	Demand for good like Television and VCR is	A. Less elastic B. More elastic C. Perfectly inelastic D. Infinitely elastic
7	Quantity of a commodity which a person is ready to purchase at a particular price, is called	A. Individual demand B. Market demand C. Supply D. Market Supply
8	When there is big change in demand and price of a commodity, it is called	A. Point elasticity B. Arc elasticity C. Cross elasticity D. Income elasticity
9	Reserve price of a commodity is that price	A. Which is more than the cost of production of the seller B. At which the seller sells his commodity tn the market C. Which is equal to the cost of production of the seller D. Below which the seller is not ready to sell his commodity
10	Increasing function of price is	A. Demand B. Supply C. Utility D. Cosnsumption

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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

The demand curve slopes

If the percentage change in supply is more than the percentage change in price, then elasticity of supply is called

If demand did not influence by the charge in price, that is called:

The cause of rise and fall of demand is

Who did present formula to measure Arc elasticity of demand

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

When demand increases due to change in other factors it is known as:

Who does determine the reserve price

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

The duty of a market is not to

In which direction demand and supply curves move

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

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

One of the following is not substitute good:

If the demand for a commodity is less elastic, then an entrepreneur in order to increase his profit

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 2

Set 3

Set 4

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Set 8

Set 9

Set 10

Set 11

Set 12

Set 13

Topic Test

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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