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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
Demand is a function of
Question # 2
Mr. Suleri bought 50 litters of petrol when his monthly income was Rs. 25000. Now his monthly income has risen to Rs. 50000 and he purchases 100 litres of petrol. His income elasticity of demand for petrol is
Question # 3
When demand is perfectly inelastic, an increase in price will result in
Question # 4
Price elastic of demand measures
Question # 5
If price and total revenue move in the same direction, then demand is
Question # 6
Which one can cause a change in demand
Question # 7
Other things equal, if a good has more substitutes, its price elasticty of demand is
Question # 8
If quantity demanded is completely unresponsive to changes in price, demand is
Question # 9
Which one is not determinant of demand
Question # 10
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
Question # 11
One of the following will not cause a rise and fall on demand.
Question # 12
When the demand of a product rises due to factors except price it will be.
Question # 13
The demand curve slopes downward from left to right because of:
Question # 14
The demand curve is negatively sloped due to
Question # 15
When price elasticity of demand for normal goods in calculated, the value is always
Question # 16
Wit rapid economic growth in a country the individual demand curve will:
Question # 17
If demand has unit price elasticity, a change in price causes
Question # 18
A seller can increase his sales revenue by charging a lower price, if the demand has
Question # 19
A horizontal demand curve has a price elasticity of
Question # 20
If demand is inelastic, a change in the price
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 -
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 -
F Faiqa Shahid 20 - Jul - 2024 02 Min 05 Sec 10/20
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 | If price elasticity of demand is very low, the commodity is |
A. necessity
B. luxury
C. substitute
D. not available
|
| 3 | 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
|
| 4 | 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
|
| 5 | 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
|
| 6 | The demand of a commodity having many substitutes is |
A. more elastic
B. less elastic
C. zero elastic
D. infinite elastic
|
| 7 | When price elasticity of demand for normal goods in calculated, the value is always |
A. positive
B. negative
C. constant
D. greater than one
|
| 8 | 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
|
| 9 | One of the following is not an exception the law of demand. |
A. Very high price products
B. Very low price products
C. Ignorance of consumers
D. Non of the above
|
| 10 | Mr. Suleri bought 50 litters of petrol when his monthly income was Rs. 25000. Now his monthly income has risen to Rs. 50000 and he purchases 100 litres of petrol. His income elasticity of demand for petrol is |
A. 1
B. 100%
C. less than one
D. more than one
|
Test Questions
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