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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
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 2
When the price of a product falls and as a concequence the demand for the product increase. it will be.
Question # 3
A horizontal demand curve has a price elasticity of
Question # 4
When price elasticity of demand for normal goods in calculated, the value is always
Question # 5
Wit rapid economic growth in a country the individual demand curve will:
Question # 6
The following are causes of shift in demand EXCEPT the one
Question # 7
Demand is a function of
Question # 8
Other things equal, if a good has more substitutes, its price elasticty of demand is
Question # 9
The elasticity of demand of durable goods is
Question # 10
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
Question # 11
The law of demand will not be apply in case of
Question # 12
This is an assumption of law of demand
Question # 13
One of the following will not cause a rise and fall on demand.
Question # 14
Which one is the assumption of law of demand?
Question # 15
If price and total revenue move in the same direction, then demand is
Question # 16
When demand is perfectly inelastic, an increase in price will result in
Question # 17
Which one can cause a change in demand
Question # 18
If price elasticity of demand is very low, the commodity is
Question # 19
The demand of a commodity having many substitutes is
Question # 20
If quantity demanded is completely unresponsive to changes in price, demand is
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 -
M moheen ul haq 03 - Aug - 2022 04 Min 35 Sec 15/20 -
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 -
P Prerna Sahu 13 - Dec - 2021 08 Min 45 Sec 13/20 -
F Fatima Romel 20 - Mar - 2023 10 Min 04 Sec 13/20 -
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 | The demand curve is negatively sloped due to |
A. Income effect
B. Substitution effect
C. Price effect
D. All the three
|
| 2 |
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
|
| 3 | The law demand will not be valid in case of. |
A. Very high price products
B. Normal goods
C. Price effect
D. Income effects
|
| 4 | Wit rapid economic growth in a country the individual demand curve will: |
A. Rise
B. Fall
C. Extend
D. Contract
|
| 5 | The demand of a good falls when. |
A. Its price falls
B. Price of the substitute changes
C. its price rises
D. It price remain constant
|
| 6 | 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
|
| 7 | When cross elasticity of demand for A and B is positive number, one can conclude that |
A. the goods are cheaper
B. the goods are inferior
C. the goods are substitutes
D. the goods are complements
|
| 8 | 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
|
| 9 | Cross elasticity of Suzuki and Honda cars will be |
A. Positive
B. negative
C. zero
D. infinite
|
| 10 | Which of the following is a demand function? |
A. Q + 4P = 20
B. Q = 35 + 3P
C. Q - 2P - 15 =0
D. 5P - Q = 4
|
Test Questions
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