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This online test contains MCQs about following topics:
Supply Vs Stock,law of Supply ,Changes in Supply,Elasticity of Supply
MCQ's Test For Chapter 5 "Economics Ics Part 1 English Medium Chapter 5 Online Test"
Try The MCQ's Test For Chapter 5 "Economics Ics Part 1 English Medium Chapter 5 Online Test"
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Total Questions20
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Time Allowed30
Economics Ics Part 1 English Medium Chapter 5 Online Test
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Question # 1
If a change in demand is brought by a change in income, of demand will be.
Question # 2
The price of a product double due to which its quantity demand falls to one half. The elasticity of demand for product will be:
Question # 3
When a supply of a commodity increases without change in price it is called
Question # 4
Who present the Arc Elasticity formula for the measurement of elasticity of demand.
Question # 5
When the percentage change in quantity demanded is greater than the percentage change in price, elasticity of demand for the product will be.
Question # 6
The method to measure the elasticity of demand is :
Question # 7
Products A and B are substitutes whereas A and C are complement. With a rise in the price of product A, quantity demand of:
Question # 8
The quantities of a commodity offered for sale at different prices during a given period of time are called
Question # 9
The demand for a product is inelastic. In order to increase government revenue, the finance minister will :
Question # 10
If the price of a product rises, quantity demand if its substitute will.
Question # 11
What best explains a shift in market supply curve to the right?
Question # 12
Supply of a commodity means
Question # 13
Which one of the following pairs represent complementary demand for a product.
Question # 14
During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to
Question # 15
In case of perfectly elastic demand curve, the demand curve will be parallel to the.
Question # 16
If elasticity of supply is one, supply curve will be
Question # 17
With a fall in the price of a Giffen good or inferior good its quantity demand will.
Question # 18
Other things remaining the same, quantity supplied of a commodity increases with rise in price and decreases with fall in price are called
Question # 19
Which one is increasing function of price
Question # 20
The product which have close substitute their demand is always.
ICS Part 1 Economics Chapter 5 MCQs Test
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