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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 demand is perfectly inelastic, an increase in price will result in
Question # 2
Income elasticity of demand for normal good is always
Question # 3
Price and demand are positively correlated in case of
Question # 4
The following are causes of shift in demand EXCEPT the one
Question # 5
The demand of a good falls when.
Question # 6
Which one is not determinant of demand
Question # 7
If demand is inelastic, a change in the price
Question # 8
Which of the following is a demand function?
Question # 9
The demand of a commodity having many substitutes is
Question # 10
Market demand curve is a summation of all individual demand curves as
Question # 11
Demand is a function of
Question # 12
If elasticity of demand is very low it shows that the commodity is
Question # 13
One of the following will not cause a rise and fall on demand.
Question # 14
The law demand will not be valid in case of.
Question # 15
The law of demand will not be apply in case of
Question # 16
When price elasticity of demand for normal goods in calculated, the value is always
Question # 17
If price and total revenue move in the same direction, then demand is
Question # 18
This is an assumption of law of demand
Question # 19
The demand curve is negatively sloped due to
Question # 20
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
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 -
U Umna Saleem 09 - Oct - 2023 06 Min 24 Sec 11/20
ICS Part 1 Economics Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If price and total revenue move in the same direction, then demand is |
A. inelastic
B. elastic
C. unrelated
D. perfectly elastic
|
| 2 | When price elasticity of demand for normal goods in calculated, the value is always |
A. positive
B. negative
C. constant
D. greater than one
|
| 3 | Demand is a function of |
A. price
B. quantity
C. supply
D. none
|
| 4 | A horizontal demand curve has a price elasticity of |
A. zero
B. infinity
C. 1
D. variable
|
| 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 | If elasticity of demand is very low it shows that the commodity is |
A. a necessity
B. a luxury
C. has little importance in total budget
D. a and c above
|
| 7 | If quantity demanded is completely unresponsive to changes in price, demand is |
A. inelastic
B. unit elastic
C. elastic
D. perfectly inelastic
|
| 8 | This is an assumption of law of demand |
A. price of the commodity does not change
B. quantity should not change
C. supply should not change
D. income of consumer should not change
|
| 9 | Law of demand shows relation between |
A. income and price of commodity
B. price and quantity of a commodity
C. income and quantity demanded
D. quantity demanded and quantity supplied
|
| 10 | Other things equal, if a good has more substitutes, its price elasticty of demand is |
A. larger
B. smaller
C. zero
D. unity
|
Test Questions
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