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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 is not an exception the law of demand.
Question # 2
Which one is not determinant of demand
Question # 3
If demand has unit price elasticity, a change in price causes
Question # 4
This is an assumption of law of demand
Question # 5
The demand of a good falls when.
Question # 6
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 7
Which of the following is a demand function?
Question # 8
Price and demand are positively correlated in case of
Question # 9
The law of demand will not be apply in case of
Question # 10
The demand curve is negatively sloped due to
Question # 11
Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is
Question # 12
To say that two goods are unrelated, their cross price elasticity of demand should be
Question # 13
Cross elasticity of Suzuki and Honda cars will be
Question # 14
The following are causes of shift in demand EXCEPT the one
Question # 15
If price elasticity of demand is very low, the commodity is
Question # 16
A horizontal demand curve has a price elasticity of
Question # 17
Which one is the assumption of law of demand?
Question # 18
When the demand of a product rises due to factors except price it will be.
Question # 19
A seller can increase his sales revenue by charging a lower price, if the demand has
Question # 20
When price elasticity of demand for normal goods in calculated, the value is always
ICS Part 1 Economics Chapter 4 MCQs 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 -
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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 price elasticity of demand for normal goods in calculated, the value is always |
A. positive
B. negative
C. constant
D. greater than one
|
| 2 | If price elasticity of demand is very low, the commodity is |
A. necessity
B. luxury
C. substitute
D. not available
|
| 3 | When the price of a product falls and as a concequence the demand for the product increase. it will be. |
A. Rise of demands
B. Fall of demand
C. Extension of demand
D. Contraction on demand
|
| 4 | 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
|
| 5 | The demand curve is negatively sloped due to |
A. Income effect
B. Substitution effect
C. Price effect
D. All the three
|
| 6 | 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
|
| 7 | Which one is not determinant of demand |
A. tastes
B. income
C. method of production
D. price
|
| 8 | A seller can increase his sales revenue by charging a lower price, if the demand has |
A. e < 1
B. e = 1
C. e > 1
D. e = 0
|
| 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 | Market demand curve is a summation of all individual demand curves as |
A. Vertical
B. horizontal
C. mathematical
D. local
|
Test Questions
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