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This online test contains MCQs about following topics:
Demand, Law of demand,Shift in Demand Curve Rise and Fall of demand ,Elasticity of demand,Measurement of elasticity ,Point Elasticity ,Arc Elasticity ,Cross Elasticity,Practical Importance of Elasticity ,Income Elasticity,Cross Elasticity,Practical Importance of Elasticity, Functional Equationof Demand
MCQ's Test For Chapter 4 "Economics Ics Part 1 English Medium Chapter 4 Online Test"
Try The MCQ's Test For Chapter 4 "Economics Ics Part 1 English Medium Chapter 4 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 4 Online Test
00:00
Question # 1
Normally a demand curve will have the shape
Question # 2
One of the following is not an exception the law of demand.
Question # 3
A seller can increase his sales revenue by charging a lower price, if the demand has
Question # 4
If demand has unit price elasticity, a change in price causes
Question # 5
If elasticity of demand is very low it shows that the commodity is
Question # 6
Which of the following is a demand function?
Question # 7
Which one is the assumption of law of demand?
Question # 8
If demand is unitary elastic, a 25% increase in price will result in
Question # 9
When price elasticity of demand for normal goods in calculated, the value is always
Question # 10
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
Question # 11
The demand curve is negatively sloped due to
Question # 12
If quantity demanded is completely unresponsive to changes in price, demand is
Question # 13
Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is
Question # 14
Demand is a function of
Question # 15
Which one is not determinant of demand
Question # 16
Which one can cause a change in demand
Question # 17
The law demand will not be valid in case of.
Question # 18
When demand is perfectly inelastic, an increase in price will result in
Question # 19
If price elasticity of demand is very low, the commodity is
Question # 20
One of the following will not cause a rise and fall on demand.
ICS Part 1 Economics Chapter 4 MCQs Test
Top Scorers Of Chapter 4 "Economics Ics Part 1 English Medium Chapter 4 Online Test" MCQ`s Test
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A Anum Fatima 19 - Jun - 2023 00 Min 06 Sec 20/20 -
L Laiba Muqaddas 26 - Jul - 2024 00 Min 56 Sec 20/20 -
A Ali Hassan 10 - Sep - 2022 02 Min 54 Sec 20/20 -
M M.Attiq-U-Rehman 24 - Nov - 2023 04 Min 07 Sec 17/20 -
H hafsa Mumtaz 10 - May - 2024 00 Min 15 Sec 16/20 -
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T Tazmeen Afaq 08 - Aug - 2023 06 Min 26 Sec 14/20 -
Z Zaina Ch 10 - May - 2024 01 Min 48 Sec 13/20 -
A Asim Khan wazir 06 - May - 2024 05 Min 01 Sec 13/20 -
H Hanif Wazir 30 - May - 2022 05 Min 12 Sec 13/20 -
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Z zainab nouman 16 - Apr - 2024 04 Min 48 Sec 12/20 -
H hamza abid 16 - May - 2022 10 Min 50 Sec 12/20 -
S Safa Kodvavi 12 - Dec - 2021 04 Min 21 Sec 11/20
ICS Part 1 Economics Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Price and demand are positively correlated in case of |
A. necessities
B. comforts
C. Giffen goods
D. Luxuries
|
| 2 | Income elasticity of demand for normal good is always |
A. 1
B. more than one
C. negative
D. positive
|
| 3 | If demand is unitary elastic, a 25% increase in price will result in |
A. 25% change in total revenue
B. no change in quantity demanded
C. 1% decrease in quantity demanded
D. 25% decrease in quantity demanded
|
| 4 | The demand of a will expand when: |
A. Other things do not remain constant.
B. Price of the products changes.
C. Value of money falls.
D. None of the three
|
| 5 |
Which one can cause a change in demand
|
A. change in income
B. change in supply
C. change in tastes
D. a and c of above
|
| 6 | Haris has a special taste for chicken rolls of college canteen. The owner of the canteen doubles the price of chicken roll. Haris did not respond to the increase in prices and kept on demanding the same quantity of chicken roll. His demand for chicken roll is |
A. perfectly elastic
B. perfectly inelastic
C. elastic
D. less elastic
|
| 7 | The law demand will not be valid in case of. |
A. Very high price products
B. Normal goods
C. Price effect
D. Income effects
|
| 8 | One of the following will not cause a rise and fall on demand. |
A. Change in income
B. Change in weather
C. Discovery of a substitute
D. Distribution of income remaining the same
|
| 9 | The following are causes of shift in demand EXCEPT the one |
A. change in income
B. change in price
C. change in fashion
D. change in prices of substitutes
|
| 10 | If demand is inelastic, a change in the price |
A. will change the quantity in same direction
B. will change total revenue in same direction
C. will change total revenue in the opposite direction
D. will not change quantity
|
Test Questions
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