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	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
2	The demand curve slopes	A. upwards B. Horizontal C. vertical D. downward to the right
3	The supply curve of Fish is	A. More elastic B. Less elastic C. Inelastic D. Infinite elastic
4	If the percentage change in supply is more than the percentage change in price, then elasticity of supply is called	A. Equal to unity B. Less than unity C. More than unity D. Infinite
5	If the total expenditure of the consumer decreases due to decrease in price, then nature of elasticity of demand will be	A. Equal to unity B. Less than unity C. More than unity D. Elasticity of demand = zero
6	The cause of extension and contraction of demand is	A. Income B. Price C. Population D. Technology
7	Cause of shifting of demand curve is	A. Change in price B. Desire C. Other factors D. Exceptions
8	If supply does not change, then due to fall of demand	A. Equilibrium price decreases B. Equilibrium price increases C. Equilibrium price does not change D. Equilibrium quantity increases
9	Equilibrium means	A. the condition that is not possible B. an unstable condition C. a condition that can change D. stable position
10	Finance minister imposes tax on the goods having more elastic demand	A. At low rate B. At high rate C. At the same rate D. At zero rate

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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

In order to satisfy some wants, more than one commodities are needed. Demand for such commodities is called

Some inferior goods having expensive substitutes are known as:

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

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

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

The cause of rise and fall of demand is

Rise of supply can be shown with the help of

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

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

If supply of a commodity changes by more than 10% due to 10% change in its price, then elasticity of supply will be

If demand decreases by 10% due to 10% increase in Price, then elasticity of demand is

Finance minister imposes tax on the goods having more elastic demand

Supply of goods depends on

If supply rises more proportionately than that of demand, then

Cause of positive slope of supply curve

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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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