Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test

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Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test

  • Total Questions15

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Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test

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Question # 1

Market equilibrium is determined when

Question # 2

If demand and supply both rise in the same proportion, then

Question # 3

One of the following is not substitute good:

Question # 4

Finance minister in order to increase the public revenue, imposes tax on the commodities whose demand is less elastic

Question # 5

In case of rise in demand, demand curve shifts:

Question # 6

Which one is increasing function of price

Question # 7

If price of a commodity remains constant but its supply decreases or price increases but supply remains constant, it is called

Question # 8

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

Question # 9

In case of fall in demand, demand curve shifts:

Question # 10

Shape of market supply curve is

Question # 11

Second name of unitary method is

Question # 12

When supply curve shifts rightward or down it is called

Question # 13

Due to fall in demand, curve shifts to

Question # 14

When price decreases, supply

Question # 15

Who did present formula to measure Arc elasticity of demand

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