11th class Economics chapter 4 online mcq test with answers for ICS part 1 Economics chapter 4 (Demand)

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Sr. #	Question	Answer
1	Normally a demand curve will have the shape	A. horizontal B. vertical C.downward sloping D. upward sloping
2	Other things equal, if a good has more substitutes, its price elasticty of demand is	A. larger B. smaller C.zero D. unity
3	Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is	A. 10% B. 30% C.3 D. 1/3
4	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
5	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
6	Demand is a function of	A. price B. quantity C.supply D. none
7	The demand curve slopes downward from left to right because of:	A. Income effect B. Substitution effect C.Entry of new buyers D. All of the above
8	The demand of a will expand when:	A. Other things do not remain constant. B. Price of the products changes. C.Value of money falls. D. None of the three
9	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
10	Market demand curve is a summation of all individual demand curves as	A. Vertical B. horizontal C.mathematical D. local
11	Wit rapid economic growth in a country the individual demand curve will:	A. Rise B. Fall C.Extend D. Contract
12	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
13	Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that	A. elasticity of demand is 0 B. elasticity of demand is 1 C.elasticity of demand id infinite D. law of demand has been violated
14	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
15	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	A. perfectly elastic B. perfectly inelastic C.elastic D. less elastic
16	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
17	When price elasticity of demand for normal goods in calculated, the value is always	A. positive B. negative C.constant D. greater than one
18	Price and demand are positively correlated in case of	A. necessities B. comforts C.Giffen goods D. Luxuries
19	The law of demand will not be apply in case of	A. Inferior goods B. Superior goods C.Normal goods D. Non of them
20	Which one is not determinant of demand	A. tastes B. income C.method of production D. price

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First Year Economics Chapter 4 Online MCQ Test for 1st Year Economics Chapter 4 (Demand)

ICS Part 1 Economics Chapter 4 Test

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MCQ's Test For Chapter 4 "Economics Ics Part 1 English Medium Chapter 4 Online Test"

Economics Ics Part 1 English Medium Chapter 4 Online Test

Demand is a function of

Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that

Price elastic of demand measures

One of the following is not an exception the law of demand.

Which one is the assumption of law of demand?

The demand curve slopes downward from left to right because of:

If quantity demanded is completely unresponsive to changes in price, demand is

If demand is unitary elastic, a 25% increase in price will result in

Which of the following is a demand function?

When demand is perfectly inelastic, an increase in price will result in

The demand curve is negatively sloped due to

If price and total revenue move in the same direction, then demand is

If demand is inelastic, a change in the price

If price elasticity of demand is very low, the commodity is

This is an assumption of law of demand

The demand of a commodity having many substitutes is

Normally a demand curve will have the shape

Cross elasticity of Suzuki and Honda cars will be

Price and demand are positively correlated in case of

Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is

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ICS Part 1 Economics Chapter 4 MCQs Test

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