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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
When the demand of a product rises due to factors except price it will be.
Question # 2
If price elasticity of demand is very low, the commodity is
Question # 3
Normally a demand curve will have the shape
Question # 4
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
Question # 5
Wit rapid economic growth in a country the individual demand curve will:
Question # 6
The law of demand will not be apply in case of
Question # 7
If price and total revenue move in the same direction, then demand is
Question # 8
The law demand will not be valid in case of.
Question # 9
The demand of a commodity having many substitutes is
Question # 10
When cross elasticity of demand for A and B is positive number, one can conclude that
Question # 11
The following are causes of shift in demand EXCEPT the one
Question # 12
One of the following will not cause a rise and fall on demand.
Question # 13
This is an assumption of law of demand
Question # 14
A horizontal demand curve has a price elasticity of
Question # 15
Which one is not determinant of demand
Question # 16
If demand is inelastic, a change in the price
Question # 17
Market demand curve is a summation of all individual demand curves as
Question # 18
This is the assumption of law of demand
Question # 19
Income elasticity of demand for normal good is always
Question # 20
Cross elasticity of Suzuki and Honda cars will be
ICS Part 1 Economics Chapter 4 MCQs Test
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ICS Part 1 Economics Chapter 4 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | Cross elasticity of Suzuki and Honda cars will be |
A. Positive
B. negative
C. zero
D. infinite
|
| 3 | 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
|
| 4 | When the price of a product falls and as a concequence the demand for the product increase. it will be. |
A. Rise of demands
B. Fall of demand
C. Extension of demand
D. Contraction on demand
|
| 5 | 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
|
| 6 | 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
|
| 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 elasticity of demand of durable goods is |
A. less than unity
B. greater than unity
C. equal to unity
D. zero
|
| 9 | 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
|
| 10 | When cross elasticity of demand for A and B is positive number, one can conclude that |
A. the goods are cheaper
B. the goods are inferior
C. the goods are substitutes
D. the goods are complements
|
Test Questions
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