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	Non elastic demand curve is	A. positive B. negative C. vertical D. horizontal
2	Supply curve moves from left to right upward, this tendency is called	A. Negative B. Positive C. Horizontal D. Vertical
3	If supply increase due to increase in price, it is called	A. Extension of supply B. Contraction of supply C. Rise of supply D. Fall of supply
4	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
5	If supply curve is horizontal (parallel to x-axis) then elasticity of supply is	A. Zero B. Infinite C. Equal to unity D. More than unity
6	Relationship between price of a commodity and demand for it exists	A. Positive B. Inverse C. Indirect D. None of these
7	If two goods are complimentary, cross Elasticity of demand will be:	A. Zero B. Infinite C. Positive D. Negative
8	Price and demand has a relationship:	A. Negative B. Positive C. Functional D. Both a & c
9	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
10	According to law of supply which factor changes the supply	A. cost of producton B. price C. climatic conditions D. level of income

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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 the total expenditure of the consumer increases due to increase in price, then nature of elasticity of demand will be

If same amount of good is supplied at higher price, it is called

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

Which one is not condition of perfect competition

Kinds of supply according to period of time are

What functional relationship is present between demand and price

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

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

If supply of a commodity is fixed, it is called

According to law of supply which factor changes the supply

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

Price determined with the equilibrium of demand and supply on some day

Elasticity of demand for luxuries is

In case of fall in demand, demand curve shifts:

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

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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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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