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	Rise of supply can be shown with the help of	A. A supply curve B. More than one supply curves C. Fixed supply curve D. Vertical supply curve
2	Price of perishable goods is determined	A. In the market period B. In the short period C. In the middle period D. In the long period
3	Due to fall in demand, curve shifts to	A. Right B. Left C. Both sides D. None of these
4	Who did present unity method to measure elasticity of demand	A. Adam Smith B. Marshall C. Robbins D. keynes
5	Equilibrium means	A. the condition that is not possible B. an unstable condition C. a condition that can change D. stable position
6	In order to satisfy some wants, more than one commodities are needed. Demand for such commodities is called	A. Joint demand B. Composite demand C. Derived demand D. Direct demand
7	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
8	The goods which can be used in place of each other, are called	A. Complimentary goods B. Substitute goods C. Alternative goods D. Jointly demanded goods
9	Cause of movement along the supply curve is	A. Change in price B. Other factors C. Change in tax D. Change in income
10	Desire + Purchasing power is equal to:	A. Demand B. Supply C. Income D. Utility

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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

A slight change in demand and price is called:

What functional relationship is present between demand and price

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

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

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

Under certain conditions, slope of demand curve is

Stock means the quantity of a commodity

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

If the percentage change in supply is more than the percentage change in price, then elasticity of supply is called

Which combination of the following is of joint demand

Exceptions, or limitations of law of demand have been stated by

Price is determined under perfect competition

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

A big change in demand and price is called:

Who does determine the reserve price

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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