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

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Subtain Ahmed Raza 21 - Jul - 2023 04 Min 19 Sec 12/15
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ayesha ayaz 22 - Jul - 2022 01 Min 57 Sec 10/15
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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	In which direction demand and supply curves move	A. Same B. Opposite C. parallel D. Horizontal
2	The demand curve slopes	A. upwards B. Horizontal C. vertical D. downward to the right
3	Slope of demand curve of exceptions of law of demand is	A. Negative B. Positive C. Zero D. Fixed
4	If demand and supply both fall in the same proportion	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity increases
5	When demand and supply rise equally then equilibrium price	A. isles B. is more C. Remains the source D. Zero
6	If supply of a commodity changes by less than 10% due to a 10% change in its price, then elasticity of supply will be	A. Equal to unity B. More than unity C. Less than unity D. Zero
7	Who does determine the reserve price	A. Buyer B. Seller C. Government D. District adminitration
8	Exceptions, or limitations of law of demand have been stated by	A. Professor Marshall B. Professor Adam Smith C. Professor Benham D. Professor Robbins
9	At equilibrium price, demand and supply	A. Increase B. Become equal C. Decrease D. are different
10	Finance minister in order to increase the public revenue imposes the tax on the commodities whose demand is more elastic	A. At low rate B. At high rate C. Some times decreases the rate and some times increases D. Does not change Tax 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

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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 demand does not change, then due to rise of supply

Relationship between price of a commodity and demand for it exists

Kinds of supply according to period of time are

When supply changes due to other factors besides price, it is called

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

If quantity demand changes due to the change in income, it is called:

Who does determine the reserve price

A slight change in demand and price is called:

Demand for Giffen goods is:

The equilibrium of the market is that demand and supply to each other are

When demand increases due to change in other factors it is known as:

A textile mill produces 2000 meters cloth. Entrepreneur offers 1500 meters cloth to sell at price Rs 100 per meter and 500 meters cloth keeps with him. Cloth kept by the entrepreneur is called

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

Increasing function of price is

If total expenditure of the consumer increases 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

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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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