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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
Wit rapid economic growth in a country the individual demand curve will:
Question # 2
Normally a demand curve will have the shape
Question # 3
Market demand curve is a summation of all individual demand curves as
Question # 4
Which one can cause a change in demand
Question # 5
The demand of a commodity having many substitutes is
Question # 6
If price and total revenue move in the same direction, then demand is
Question # 7
If demand has unit price elasticity, a change in price causes
Question # 8
When demand is perfectly inelastic, an increase in price will result in
Question # 9
This is the assumption of law of demand
Question # 10
If elasticity of demand is very low it shows that the commodity is
Question # 11
To say that two goods are unrelated, their cross price elasticity of demand should be
Question # 12
The law demand will not be valid in case of.
Question # 13
Cross elasticity of Suzuki and Honda cars will be
Question # 14
Other things equal, if a good has more substitutes, its price elasticty of demand is
Question # 15
A horizontal demand curve has a price elasticity of
Question # 16
A seller can increase his sales revenue by charging a lower price, if the demand has
Question # 17
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 18
Which one is not determinant of demand
Question # 19
If demand is inelastic, a change in the price
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 -
F Fatima Romel 20 - Mar - 2023 10 Min 04 Sec 13/20 -
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H hamza abid 16 - May - 2022 10 Min 50 Sec 12/20 -
U Umna Saleem 09 - Oct - 2023 06 Min 24 Sec 11/20 -
F Faiqa Shahid 20 - Jul - 2024 02 Min 05 Sec 10/20
ICS Part 1 Economics Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | One of the following will not cause a rise and fall on demand. |
A. Change in income
B. Change in weather
C. Discovery of a substitute
D. Distribution of income remaining the same
|
| 2 | Which one is the assumption of law of demand? |
A. price of the commodity should not change
B. quantity demand should not change
C. income of the consumer should not change
D. none of the above
|
| 3 | Other things equal, if a good has more substitutes, its price elasticty of demand is |
A. larger
B. smaller
C. zero
D. unity
|
| 4 | Price and demand are positively correlated in case of |
A. necessities
B. comforts
C. Giffen goods
D. Luxuries
|
| 5 | When price elasticity of demand for normal goods in calculated, the value is always |
A. positive
B. negative
C. constant
D. greater than one
|
| 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
|
| 7 | If demand is inelastic, a change in the price |
A. will change the quantity in same direction
B. will change total revenue in same direction
C. will change total revenue in the opposite direction
D. will not change quantity
|
| 8 | A horizontal demand curve has a price elasticity of |
A. zero
B. infinity
C. 1
D. variable
|
| 9 | This is an assumption of law of demand |
A. price of the commodity does not change
B. quantity should not change
C. supply should not change
D. income of consumer should not change
|
| 10 | The elasticity of demand of durable goods is |
A. less than unity
B. greater than unity
C. equal to unity
D. zero
|
Test Questions
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