First Year Economics Chapter 5 Online MCQ Test for 1st Year Economics Chapter 5 (Supply)

This online test contains MCQs about following topics:

Supply Vs Stock,law of Supply ,Changes in Supply,Elasticity of Supply

ICS Part 1 Economics Chapter 5 Test

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Online MCQ`s Test For Chapter 5 "Economics Ics Part 1 English Medium Chapter 5 Online Test"

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Economics Ics Part 1 English Medium Chapter 5 Online Test

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Question # 1

Supply curve

Question # 2

If elasticity of supply is one, supply curve will be

Question # 3

If a firm makes 200 units of a good available at a price of Rs. 10 per unit, the elasticity is

Question # 4

Which one is increasing function of price

Question # 5

A schedule of the amount of a good that would be offered for sale at all possible prices, at any one instant of time or during any period of time are called

Question # 6

In case of perfectly elastic demand curve, the demand curve will be parallel to the.

Question # 7

Long period supply curve is

Question # 8

When a supply of a commodity increases without change in price it is called

Question # 9

If price changes by one % and supply changes by 2% then supply is

Question # 10

The composite demand for a product is generally:

Question # 11

If a change in demand is brought by a change in income, of demand will be.

Question # 12

An increases in demand would cause supply curve to

Question # 13

Who present the Arc Elasticity formula for the measurement of elasticity of demand.

Question # 14

The product which have close substitute their demand is always.

Question # 15

The demand for a product is inelastic. In order to increase government revenue, the finance minister will :

Question # 16

Which one of the following pairs represent complementary demand for a product.

Question # 17

The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will.

Question # 18

In May 2012, firm was supplying 1000 kg of sugar at market price of Rs. 60/- per kg. During June 2012, firm's supply of sugar had decreased to 900 kg at price Rs. 40/- per kg. These changes show that supply of sugar is

Question # 19

The method to measure the elasticity of demand by the unitary method was introduced by.

Question # 20

The quantities of a commodity offered for sale at different prices during a given period of time are called

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ICS Part 1 Economics Chapter 5 MCQs Test

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