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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Minahil Asif 04 - Jun - 2024 01 Min 46 Sec 8/15

ICom Part 1 Principles of Economics ( English Medium) Chapter 3 Important MCQ's

Sr.#	Question	Answer
1	Which combination of the following is of joint demand	A. Tea and coffee B. Petrol and car C. Meat and grocery D. Inkpot and book
2	If demand falls more proportionately then that of supply then	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity increases
3	If demand curve is parallel to x-axis, then elasticity of demand is	A. Infinite B. Zero C. Equal to unity D. More than unity
4	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
5	Elasticity of demand for luxuries is	A. Equal to unity B. More than unity C. Less than unity D. Zero
6	Second name of unitary method is	A. Method of total satisfication B. total expenditure method C. total revenue method D. Both 2nd and 3rd
7	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
8	Supply of goods depends upon	A. Price B. Income C. Price and income D. Utility
9	In case of rise in demand, demand curve shifts:	A. Right side B. Downward C. Upward D. (a) and (c)
10	Demand for basic necessities of life is:	A. Perfectly elastic B. Less elastic C. Perfectly inelastic D. More elastic

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

If demand decreases by 15% due to 10% increase in Price, then elasticity of demand is

If there is big change in Price and demand, it is called

If there is slight change in price and demand, it is called

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

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

If demand does not change, despite a fall in price, is called

If supply of a commodity is fixed, it is called

If two goods are substitute, cross Elasticity of demand will be:

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

Finance minister in order to increase the public revenue imposes the tax on the commodities whose demand is more elastic

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

The goods which are jointly demanded to satisfy a want, are called

Who did present unity method to measure elasticity of demand

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

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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Set 10

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Set 13

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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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