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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
Income elasticity of demand for normal good is always
Question # 2
If demand is unitary elastic, a 25% increase in price will result in
Question # 3
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 4
A horizontal demand curve has a price elasticity of
Question # 5
When price elasticity of demand for normal goods in calculated, the value is always
Question # 6
One of the following is not an exception the law of demand.
Question # 7
The following are causes of shift in demand EXCEPT the one
Question # 8
A seller can increase his sales revenue by charging a lower price, if the demand has
Question # 9
The demand of a commodity having many substitutes is
Question # 10
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
Question # 11
One of the following will not cause a rise and fall on demand.
Question # 12
Which one can cause a change in demand
Question # 13
When the demand of a product rises due to factors except price it will be.
Question # 14
The demand curve slopes downward from left to right because of:
Question # 15
This is an assumption of law of demand
Question # 16
Normally a demand curve will have the shape
Question # 17
Which one is the assumption of law of demand?
Question # 18
When demand is perfectly inelastic, an increase in price will result in
Question # 19
The law of demand will not be apply in case of
Question # 20
If price elasticity of demand is very low, the commodity 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 -
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 -
U Umna Saleem 09 - Oct - 2023 06 Min 24 Sec 11/20
ICS Part 1 Economics Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | The elasticity of demand of durable goods is |
A. less than unity
B. greater than unity
C. equal to unity
D. zero
|
| 2 | 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
|
| 3 | Market demand curve is a summation of all individual demand curves as |
A. Vertical
B. horizontal
C. mathematical
D. local
|
| 4 | When demand is perfectly inelastic, an increase in price will result in |
A. decrease in total revenue
B. increase in total revenue
C. no change in total revenue
D. decrease in quantity demanded
|
| 5 | 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
|
| 6 | If demand has unit price elasticity, a change in price causes |
A. increase in total revenue
B. decrease in total revenue
C. no change in total revenue
D. indeterminate
|
| 7 | 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
|
| 8 | 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
|
| 9 | Wit rapid economic growth in a country the individual demand curve will: |
A. Rise
B. Fall
C. Extend
D. Contract
|
| 10 | If price and total revenue move in the same direction, then demand is |
A. inelastic
B. elastic
C. unrelated
D. perfectly elastic
|
Test Questions
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