4th Chapter

ICS Part 1 Economics Chapter 4 MCQs Test

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

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

ICS Part 1 Economics Chapter 4 Test

Start Chapter 4 Test

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

Sr. # Questions Answers Choice
1 <div>Which one can cause a change in demand</div>
  • A. change in income
  • B. change in supply
  • C. change in tastes
  • D. a and c of above
2 The law demand will not be valid in case of.
  • A. Very high price products
  • B. Normal goods
  • C. Price effect
  • D. Income effects
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 If price elasticity of demand is very low, the commodity is
  • A. necessity
  • B. luxury
  • C. substitute
  • D. not available
5 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
6 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
7 Other things equal, if a good has more substitutes, its price elasticty of demand is
  • A. larger
  • B. smaller
  • C. zero
  • D. unity
8 When price elasticity of demand for normal goods in calculated, the value is always
  • A. positive
  • B. negative
  • C. constant
  • D. greater than one
9 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
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

Top Scorers of Economics Ics Part 1 English Medium Chapter 4 Online Test

F

FAIZA RASHID

Lahore22 - May - 2025

18/20
03 Mins 49 Sec
F

FAIZA RASHID

Lahore22 - May - 2025

13/20
04 Mins 34 Sec
A

Ajmal Khan

Lahore28 - Apr - 2025

13/20
07 Mins 28 Sec
A

Ajmal Khan

Lahore28 - Apr - 2025

13/20
07 Mins 28 Sec
M

Muhammad Hassan

Lahore06 - May - 2025

12/20
03 Mins 05 Sec
F

FAIZA RASHID

Lahore22 - May - 2025

12/20
03 Mins 35 Sec
M

Maheen Maheen Ali

Lahore22 - May - 2025

10/20
05 Mins 20 Sec

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