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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
Which one can cause a change in demand
Question # 2
If demand has unit price elasticity, a change in price causes
Question # 3
Other things equal, if a good has more substitutes, its price elasticty of demand is
Question # 4
This is the assumption of law of demand
Question # 5
The elasticity of demand of durable goods is
Question # 6
The demand curve slopes downward from left to right because of:
Question # 7
The demand curve is negatively sloped due to
Question # 8
When the price of a product falls and as a concequence the demand for the product increase. it will be.
Question # 9
Income elasticity of demand for normal good is always
Question # 10
If demand is unitary elastic, a 25% increase in price will result in
Question # 11
If price elasticity of demand is very low, the commodity is
Question # 12
Normally a demand curve will have the shape
Question # 13
Which one is not determinant of demand
Question # 14
Which one is the assumption of law of demand?
Question # 15
If quantity demanded is completely unresponsive to changes in price, demand is
Question # 16
The following are causes of shift in demand EXCEPT the one
Question # 17
When the demand of a product rises due to factors except price it will be.
Question # 18
Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is
Question # 19
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 # 20
Price and demand are positively correlated in case of
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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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 -
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T Tazmeen Afaq 08 - Aug - 2023 06 Min 26 Sec 14/20 -
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H hamza abid 16 - May - 2022 10 Min 50 Sec 12/20 -
S Safa Kodvavi 12 - Dec - 2021 04 Min 21 Sec 11/20
| Sr.# | Question | Answer |
|---|---|---|
| 1 | If price and total revenue move in the same direction, then demand is |
A. inelastic
B. elastic
C. unrelated
D. perfectly elastic
|
| 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 | 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
|
| 4 | 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
|
| 5 | 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
|
| 6 | 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
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| 7 | The law of demand will not be apply in case of |
A. Inferior goods
B. Superior goods
C. Normal goods
D. Non of them
|
| 8 | If quantity demanded is completely unresponsive to changes in price, demand is |
A. inelastic
B. unit elastic
C. elastic
D. perfectly inelastic
|
| 9 | Price and demand are positively correlated in case of |
A. necessities
B. comforts
C. Giffen goods
D. Luxuries
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| 10 | Which one is not determinant of demand |
A. tastes
B. income
C. method of production
D. price
|
Test Questions
