Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
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"
-
Total Questions20
-
Time Allowed30
Economics Ics Part 1 English Medium Chapter 4 Online Test
00:00
Question # 1
When price elasticity of demand for normal goods in calculated, the value is always
Question # 2
The demand of a good falls when.
Question # 3
When the price of a product falls and as a concequence the demand for the product increase. it will be.
Question # 4
The demand curve slopes downward from left to right because of:
Question # 5
Other things equal, if a good has more substitutes, its price elasticty of demand is
Question # 6
If price and total revenue move in the same direction, then demand is
Question # 7
This is an assumption of law of demand
Question # 8
The elasticity of demand of durable goods is
Question # 9
The demand curve is negatively sloped due to
Question # 10
Which one can cause a change in demand
Question # 11
To say that two goods are unrelated, their cross price elasticity of demand should be
Question # 12
This is the assumption of law of demand
Question # 13
If demand is unitary elastic, a 25% increase in price will result in
Question # 14
When demand is perfectly inelastic, an increase in price will result in
Question # 15
Normally a demand curve will have the shape
Question # 16
The law demand will not be valid in case of.
Question # 17
If demand has unit price elasticity, a change in price causes
Question # 18
Irrespecitve of price, Somia always spends Rs. 100 a week on ice cream, we conculde that
Question # 19
Which one is the assumption of law of demand?
Question # 20
Price elastic of demand measures
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
-
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 -
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 -
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 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
|
| 2 | The demand curve slopes downward from left to right because of: |
A. Income effect
B. Substitution effect
C. Entry of new buyers
D. All of the above
|
| 3 | The law demand will not be valid in case of. |
A. Very high price products
B. Normal goods
C. Price effect
D. Income effects
|
| 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 price elasticity of demand is very low, the commodity is |
A. necessity
B. luxury
C. substitute
D. not available
|
| 6 | 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
|
| 7 | 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
|
| 8 | Normally a demand curve will have the shape |
A. horizontal
B. vertical
C. downward sloping
D. upward sloping
|
| 9 | When price elasticity of demand for normal goods in calculated, the value is always |
A. positive
B. negative
C. constant
D. greater than one
|
| 10 |
Which one can cause a change in demand
|
A. change in income
B. change in supply
C. change in tastes
D. a and c of above
|
Test Questions
Share your comments & questions here
No comments yet. Be the first to comment!