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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

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

Sr. # Questions Answers Choice
1 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
2 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
3 Which of the following is a demand function?
  • A. Q + 4P = 20
  • B. Q = 35 + 3P
  • C. Q - 2P - 15 =0
  • D. 5P - Q = 4
4 The law of demand will not be apply in case of
  • A. Inferior goods
  • B. Superior goods
  • C. Normal goods
  • D. Non of them
5 If price and total revenue move in the same direction, then demand is
  • A. inelastic
  • B. elastic
  • C. unrelated
  • D. perfectly elastic
6 One of the following is not an exception the law of demand.
  • A. Very high price products
  • B. Very low price products
  • C. Ignorance of consumers
  • D. Non of the above
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 If elasticity of demand is very low it shows that the commodity is
  • A. a necessity
  • B. a luxury
  • C. has little importance in total budget
  • D. a and c above
9 Demand is a function of
  • A. price
  • B. quantity
  • C. supply
  • D. none
10 The demand curve is negatively sloped due to
  • A. Income effect
  • B. Substitution effect
  • C. Price effect
  • D. All the three

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

Z

Zaina Ch

Lahore10 - May - 2024

13/20
01 Mins 48 Sec
A

Asim Khan Wazir

Lahore06 - May - 2024

13/20
05 Mins 01 Sec
Z

Zainab Nouman

Lahore16 - Apr - 2024

12/20
04 Mins 48 Sec
A

Asim Khan Wazir

Lahore08 - May - 2024

11/20
05 Mins 18 Sec
A

Afzal Rehmani

Lahore02 - Apr - 2024

10/20
08 Mins 23 Sec

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