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	Id demand changes by less 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
2	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
3	Demand for the goods which have different uses, is	A. More elastic B. Less elastic C. Infinity D. Zero elastic
4	In case of rise in demand, demand curve shifts:	A. Right side B. Downward C. Upward D. (a) and (c)
5	Demand for the commodities having different uses	A. Less elastic B. More elastic C. Perfectly inelastic D. Infinitely elastic
6	What is meant by demand for a commodity in economics	A. To desire for a commodity B. To have power to buy C. To have power to buy a commodity with desire D. Quantity of a commodity
7	Quantity of a commodity which the consumers are ready to purchase at a particular price, is called	A. Demand B. Supply C. Stock D. Demand and supply
8	If supply of a commodity is fixed, it is called	A. Market supply B. Short period supply C. Long period supply D. Middle period supply
9	The goods on which law of demand does not apply, are called	A. Services B. Goods and services C. Giffin goods D. Capital goods
10	Intersection of demand and supply curve is called	A. Equilibrium of firm B. Equilibrium of demand C. Equilibrium of supply D. Equilibrium point

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

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

Supply of goods depends upon

In which direction demand and supply curves move

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

If elasticity of supply is less than unity then extending supply curve downward, it passes through or crosses

If demand rises more proportionately than that of supply, then

Demand for luxuries in

The term demand in economics means:

If supply rises more proportionately than that of demand, then

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

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

According to law of demand, curve moves from left to right downward. This type of tendency is called

Elasticity of demand for the commodities which have substitutes, is

Formula method to measure elasticity of supply is related to

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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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