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	If supply goes on increasing due to a slight increase in price, then elasticity of supply is called	A. Zero B. Infinite C. Equal to unity D. More than unity
2	Demand for luxuries in	A. Les elastic B. More elastic C. Perfectly elastic D. Perfectly inelastic
3	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	A. Total production B. Supply C. Stock D. Surplus production
4	Slope of demand curve of exceptions of law of demand is	A. Negative B. Positive C. Zero D. Fixed
5	According to the law of supply, there is relation in price and supply	A. Inverse B. Increasing C. Negative D. indirect
6	If supply does not change despite a change in price, then elasticity of supply is called	A. Equal to unity B. Less than unity C. More than unity D. Zero
7	The goods which are jointly demanded are called:	A. Substitute goods B. Complimentary goods C. Alternative goods D. None of these
8	According to law of supply, supply curve moves from left to right upward, this tendency is called	A. Positive B. Negative C. Horizontal D. Vertical
9	Non elastic demand curve is	A. positive B. negative C. vertical D. horizontal
10	Slope of demand curve is	A. Negative B. Positive C. zero D. fixed

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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

Supply of durable goods is

If the ratio of change in demand is equal to the ratio of change in price, elasticity of demand will be

Which one is increasing function of price

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

Cause of shifting of supply curve is

When there are small and minor changes in price and demand then

In case of fall in demand, demand curve shifts:

Demand for the commodities whose use can be postponed is

The quantity of commodity which exists in warehouse (stock) of the seller 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

Regarding time element, the normal price has types

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

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

If the rate of change in price and quantity demand is in equal ratio, then Elasticity of demand is:

If demand rises more proportionately than that of supply, 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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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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