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	Demand for a commodity means	A. Desire to purchase B. Power to purchase C. Price of commodity D. All the three
2	What functional relationship is present between demand and price	A. positive B. inverse C. increasing D. none of these
3	If two goods are substitute, cross Elasticity of demand will be:	A. Zero B. Infinite C. Positive D. Negative
4	If demand decreases by 15% due to 10% increase in Price, then elasticity of demand is	A. Equal to unity B. More than unity C. Less than unity D. Zero
5	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
6	When supply changes due to other factors besides price, it is called	A. Rise of supply B. Fall of supply C. Rise and fall of supply D. Extension and contraction of supply
7	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
8	Degree of change in quantity supplied due to change in price is called	A. Extension of supply B. Rise of supply C. Elasticity of supply D. None of three
9	Second name of unitary method is	A. Method of total satisfication B. total expenditure method C. total revenue method D. Both 2nd and 3rd
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

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

The cause of shifting of supply curve is

If supply does not change despite a change in price, then elasticity of supply is called

Unity method to measure elasticity of demand was presented by

Elasticity of demand for durable goods is

According to the law of supply, there is relation in price and supply

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

If the ratio of change in demand is less than the ratio of change in price, elasticity of demand will be

If demand and supply both rise in the same proportion, then

Which one of the following is not included in the assumptions of law of supply

If demand for a commodity changes due to change in price of its substitute, it is called

Demand for the commodities having different uses

Degree of change in quantity supplied due to change in price is called

Market price will be determined where

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

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