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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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	If the ratio of change in demand is less than the ratio of change in price, elasticity of demand will be	A. More than unity B. Less than unity C. Equal to unity D. Zero
2	If supply rises more proportionately than that of demand, then	A. Equilibrium price increases B. Equilibrium price decreases C. Equilibrium price does not change D. Equilibrium quantity decreases
3	The cause of extension and contraction of demand is	A. Income B. Price C. Population D. Technology
4	Quantity supplied of a commodity extends because	A. Population changes B. Change occurs in assumtions of law of supply C. Income of the entrepreneur increases D. Price of the commodity increases
5	Non elastic demand curve is	A. positive B. negative C. vertical D. horizontal
6	Desire + Purchasing power is equal to:	A. Demand B. Supply C. Income D. Utility
7	Intersection of demand and supply curve is called	A. Equilibrium of firm B. Equilibrium of demand C. Equilibrium of supply D. Equilibrium point
8	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
9	Equilibrium means	A. the condition that is not possible B. an unstable condition C. a condition that can change D. stable position
10	Some inferior goods having expensive substitutes are known as:	A. Economic goods B. Giffen goods C. Non-economic goods D. Free goods

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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

Which combination of the following is of joint demand

Demand for luxuries in

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

Cause of shifting of supply curve is

Unity method to measure elasticity of demand was presented by

If demand decreases by 5% due to 10% increase in Price, then elasticity of demand is

Movement on the same demand curve is called:

If demand rises more proportionately than that of supply, then

In case of perfectly elastic supply or infinite elasticity of supply, supply curve is

If demand and supply both fall in the same proportion

Who did present formula to measure Arc elasticity of demand

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

If 50% change in demand in response of 30% change in price then:

If supply decreases due to decrease in price, it is called

Unitary method for Elasticity of demand was presented by:

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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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