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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
The law of demand will not be apply in case of
Question # 2
Price and demand are positively correlated in case of
Question # 3
If price elasticity of demand is very low, the commodity is
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
Income elasticity of demand for normal good is always
Question # 7
A horizontal demand curve has a price elasticity of
Question # 8
Cross elasticity of Suzuki and Honda cars will be
Question # 9
If elasticity of demand is very low it shows that the commodity is
Question # 10
If demand is inelastic, a change in the price
Question # 11
If price and total revenue move in the same direction, then demand is
Question # 12
When price elasticity of demand for normal goods in calculated, the value is always
Question # 13
Normally a demand curve will have the shape
Question # 14
Price elastic of demand measures
Question # 15
If demand is unitary elastic, a 25% increase in price will result in
Question # 16
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 17
Which of the following is a demand function?
Question # 18
A seller can increase his sales revenue by charging a lower price, if the demand has
Question # 19
Which one is not determinant of demand
Question # 20
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
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 -
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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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F Fatima Romel 20 - Mar - 2023 10 Min 04 Sec 13/20 -
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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 of a commodity having many substitutes is |
A. more elastic
B. less elastic
C. zero elastic
D. infinite elastic
|
| 2 | Price and demand are positively correlated in case of |
A. necessities
B. comforts
C. Giffen goods
D. Luxuries
|
| 3 | 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
|
| 4 |
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
|
| 5 | Which one is the assumption of law of demand? |
A. price of the commodity should not change
B. quantity demand should not change
C. income of the consumer should not change
D. none of the above
|
| 6 | Income elasticity of demand for normal good is always |
A. 1
B. more than one
C. negative
D. positive
|
| 7 | 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
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| 8 | The law demand will not be valid in case of. |
A. Very high price products
B. Normal goods
C. Price effect
D. Income effects
|
| 9 | The demand curve is negatively sloped due to |
A. Income effect
B. Substitution effect
C. Price effect
D. All the three
|
| 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
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