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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
Normally a demand curve will have the shape
Question # 2
This is the assumption of law of demand
Question # 3
If elasticity of demand is very low it shows that the commodity is
Question # 4
The demand curve slopes downward from left to right because of:
Question # 5
The demand of a commodity having many substitutes is
Question # 6
The law of demand will not be apply in case of
Question # 7
Which one is the assumption of law of demand?
Question # 8
If quantity demanded is completely unresponsive to changes in price, demand is
Question # 9
When the demand of a product rises due to factors except price it will be.
Question # 10
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 11
Which of the following is a demand function?
Question # 12
If price and total revenue move in the same direction, then demand is
Question # 13
Which one is not determinant of demand
Question # 14
The demand of a will expand when:
Question # 15
If price elasticity of demand is very low, the commodity is
Question # 16
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 # 17
The demand curve is negatively sloped due to
Question # 18
When the price of a product falls and as a concequence the demand for the product increase. it will be.
Question # 19
Demand is a function of
Question # 20
Price and demand are positively correlated in case of
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 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 -
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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 | 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
|
| 2 | 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
|
| 3 | This is the assumption of law of demand |
A. price of the commodity should not change
B. Quantity demanded should not change
C. Price of substitutes should not change
D. Demand curve must be linear
|
| 4 | 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
|
| 5 | Cross elasticity of Suzuki and Honda cars will be |
A. Positive
B. negative
C. zero
D. infinite
|
| 6 | If quantity demanded is completely unresponsive to changes in price, demand is |
A. inelastic
B. unit elastic
C. elastic
D. perfectly inelastic
|
| 7 |
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
|
| 8 | Demand is a function of |
A. price
B. quantity
C. supply
D. none
|
| 9 | 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
|
| 10 | 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
|
Test Questions