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	Demand for the goods which have different uses, is	A. More elastic B. Less elastic C. Infinity D. Zero elastic
2	Equilibrium means	A. the condition that is not possible B. an unstable condition C. a condition that can change D. stable position
3	Who did present unity method to measure elasticity of demand	A. Adam Smith B. Marshall C. Robbins D. keynes
4	Slope of demand curve of exceptions of law of demand is	A. Negative B. Positive C. Zero D. Fixed
5	Elasticity of supply is the name of	A. Change in price B. Change in income C. Feature of change in supply D. Change in price and income
6	Who does determine the reserve price	A. Buyer B. Seller C. Government D. District adminitration
7	Id demand changes by less than 10% due to 10% change in price, then elasticity of demand is called	A. Equal to unity B. More than unity C. Less than unity D. Infinite
8	Market price will be determined where	A. Supply is more than demand B. Demand is more than supply C. Demand and supply are equal D. Demand is less elastic and supply is more elastic
9	Some inferior goods having expensive substitutes are known as:	A. Economic goods B. Giffen goods C. Non-economic goods D. Free goods
10	Demand for Giffen goods is:	A. Negative B. Vertical C. Positive D. All of them

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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 one is not condition of perfect competition

Which one is increasing function of price

When supply curve shifts rightward or down it is called

Supply of goods depends on

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

If demand for commodity X changes due to the change in price of commodity, it is called

Elasticity of demand for substitute and jointly demanded goods is called

If demand falls more proportionately then that of supply then

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

Some inferior goods having expensive substitutes are known as:

According to law of demand, curve moves from left to right downward. This type of tendency is called

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

Slope of demand curve of exceptions of law of demand is

Another name of unitary method is

Price and demand has a relationship:

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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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