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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
If demand is inelastic, a change in the price
Question # 2
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 3
Demand is a function of
Question # 4
When demand is perfectly inelastic, an increase in price will result in
Question # 5
Market demand curve is a summation of all individual demand curves as
Question # 6
Normally a demand curve will have the shape
Question # 7
When the demand of a product rises due to factors except price it will be.
Question # 8
The elasticity of demand of durable goods is
Question # 9
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
Question # 10
Law of demand shows relation between
Question # 11
If demand has unit price elasticity, a change in price causes
Question # 12
When price elasticity of demand for normal goods in calculated, the value is always
Question # 13
If price and total revenue move in the same direction, then demand is
Question # 14
The demand curve slopes downward from left to right because of:
Question # 15
Which one can cause a change in demand
Question # 16
The demand of a commodity having many substitutes is
Question # 17
The law demand will not be valid in case of.
Question # 18
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 # 19
A seller can increase his sales revenue by charging a lower price, if the demand has
Question # 20
Wit rapid economic growth in a country the individual demand curve will:
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 -
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 | 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
|
| 2 | 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
|
| 3 | 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
|
| 4 | 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
|
| 5 | 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
|
| 6 | The demand of a commodity having many substitutes is |
A. more elastic
B. less elastic
C. zero elastic
D. infinite elastic
|
| 7 | 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
|
| 8 | 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
|
| 9 | Normally a demand curve will have the shape |
A. horizontal
B. vertical
C. downward sloping
D. upward sloping
|
| 10 | Income elasticity of demand for normal good is always |
A. 1
B. more than one
C. negative
D. positive
|
Test Questions
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