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

Z

Zeeshan Haider 02 - Jul - 2024 00 Min 10 Sec 15/15
S

Shad Ali Shah 31 - Jul - 2024 04 Min 23 Sec 13/15
S

Subtain Ahmed Raza 21 - Jul - 2023 04 Min 19 Sec 12/15
U

Unknown 20 - Jul - 2023 02 Min 05 Sec 11/15
S

Sania Butt 01 - Jun - 2024 04 Min 51 Sec 11/15
R

Rèhab Khan 31 - Aug - 2023 10 Min 01 Sec 11/15
A

ayesha ayaz 22 - Jul - 2022 01 Min 57 Sec 10/15
A

Angle Jasmine 04 - May - 2024 02 Min 39 Sec 10/15
F

fatima raja 26 - Nov - 2023 03 Min 15 Sec 10/15
S

Subhan Baig 20 - Jul - 2024 03 Min 57 Sec 10/15
A

Abeeha aslam 07 - Jun - 2024 02 Min 30 Sec 9/15
S

Sabeeka Fatima 18 - Mar - 2023 03 Min 19 Sec 9/15
B

Bilal zafar 07 - Jun - 2024 03 Min 59 Sec 9/15
A

Asif Iqbal 20 - Apr - 2023 04 Min 05 Sec 9/15
N

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 supply curve is vertical (parallel to y-axis), then elasticity of supply is	A. Zero B. Infinite C. Equal to unity D. More than unity
2	The supply curve of Fish is	A. More elastic B. Less elastic C. Inelastic D. Infinite elastic
3	Some inferior goods having expensive substitutes are known as:	A. Economic goods B. Giffen goods C. Non-economic goods D. Free goods
4	Usually market price is ____________ normal price	A. Equal to B. Less than C. More than D. None of these
5	Supply of perishable goods is	A. More elastic B. less elastic C. Perfectly inelastic D. infinite elasticity of supply
6	Quantity of a commodity offered for sale in a market at a certain price during a given period of time, is called	A. Stock B. Demand C. Supply D. Quantity demanded
7	The cause of shifting of supply curve is	A. Change in price B. Other factors C. change in serving D. change in demand
8	Demand for good like Television and VCR is	A. Less elastic B. More elastic C. Perfectly inelastic D. Infinitely elastic
9	If quantity demanded for a commodity changes due to the change in income, it is called	A. Price elasticity B. Point elasticity C. Cross elasticity D. Income elasticity
10	When demand curve shifts leftward (or downward), it is called	A. Rise of demand B. Fall of demand C. Extension of demand D. Contraction of demand

Latest Educational News Stories

Pakistan's Largest Database of Colleges and Universities

BS Programs

University Past Papers

University Results

Exam Results 2024

Study Abroad Programs and Opportunities for Pakistani Students

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 supply decreases due to decrease in price, it is called

Demand for the commodities whose use can be postponed is

Price is determined under perfect competition

Flux method is also known as:

When demand curve shifts rightward (or upward), it is called

According to law of demand, when price of a commodity decreases, then demand curve

Quantity of a commodity which a person is ready to purchase at a particular price, is called

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

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

The supply curve of Fish is

Elasticity of demand for substitute and jointly demanded goods is called

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

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

Demand for good like Television and VCR is

Non elastic demand curve is

Prepare Complete Set Wise Chapter 3 "Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test" MCQs Online With Answers

Set 1

Set 2

Set 3

Set 4

Set 5

Set 6

Set 7

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

Test Questions

Is this page helpful?

Share your comments & questions here