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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
One of the following will not cause a rise and fall on demand.
Question # 2
If elasticity of demand is very low it shows that the commodity is
Question # 3
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
Question # 4
The law demand will not be valid in case of.
Question # 5
Market demand curve is a summation of all individual demand curves as
Question # 6
Which one is not determinant of demand
Question # 7
When the demand of a product rises due to factors except price it will be.
Question # 8
Income elasticity of demand for normal good is always
Question # 9
Wit rapid economic growth in a country the individual demand curve will:
Question # 10
The demand curve is negatively sloped due to
Question # 11
Cross elasticity of Suzuki and Honda cars will be
Question # 12
The law of demand will not be apply in case of
Question # 13
Normally a demand curve will have the shape
Question # 14
When demand is perfectly inelastic, an increase in price will result in
Question # 15
The demand of a will expand when:
Question # 16
If demand is unitary elastic, a 25% increase in price will result in
Question # 17
The demand of a good falls when.
Question # 18
Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is
Question # 19
Demand is a function of
Question # 20
This is the assumption of law of 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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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 -
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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 | When the demand of a product rises due to factors except price it will be. |
A. Extension of demands
B. Rise of demand
C. Contraction of demand
D. Extension of demand
|
| 2 | The demand curve slopes downward from left to right because of: |
A. Income effect
B. Substitution effect
C. Entry of new buyers
D. All of the above
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| 3 | Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that |
A. elasticity of demand is 0
B. elasticity of demand is 1
C. elasticity of demand id infinite
D. law of demand has been violated
|
| 4 | The elasticity of demand of durable goods is |
A. less than unity
B. greater than unity
C. equal to unity
D. zero
|
| 5 | 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
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| 6 | If demand has unit price elasticity, a change in price causes |
A. increase in total revenue
B. decrease in total revenue
C. no change in total revenue
D. indeterminate
|
| 7 | Income elasticity of demand for normal good is always |
A. 1
B. more than one
C. negative
D. positive
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| 8 | 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
|
| 9 | 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
|
| 10 | Price elastic of demand measures |
A. change in price caused by changes in demand
B. the rate of change of sales
C. the responsiveness of demand to price changes
D. the value of sales at a given price
|
Test Questions