Home
News
Colleges
Courses
Admission
Lectures
Online Test
Past Papers
Date Sheets
Results
Study Abroad
Jobs
Tutors
More
Apps
.jpg)
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"
-
Total Questions20
-
Time Allowed30
Economics Ics Part 1 English Medium Chapter 5 Online Test
00:00
Question # 1
The composite demand for a product is generally:
Question # 2
Elasticity of demand in case of minor change in price and quantity demand will be .
Question # 3
Long period supply curve is
Question # 4
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 # 5
During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to
Question # 6
If elasticity of supply is one, supply curve will be
Question # 7
When a supply of a commodity increases without change in price it is called
Question # 8
If elasticity of supply is greater than one. supply curve will be
Question # 9
The method to measure the elasticity of demand is :
Question # 10
What best explains a shift in market supply curve to the right?
Question # 11
The product which have close substitute their demand is always.
Question # 12
Supply of a commodity means
Question # 13
Which one is increasing function of price
Question # 14
If the price of a product rises, quantity demand if its substitute will.
Question # 15
When the percentage change in quantity demanded is greater than the percentage change in price, elasticity of demand for the product will be.
Question # 16
An increases in demand would cause supply curve to
Question # 17
In case of perfectly elastic demand curve, the demand curve will be parallel to the :
Question # 18
If a change in demand is brought by a change in income, of demand will be.
Question # 19
Which one of the following pairs represent complementary demand for a product.
Question # 20
The method to measure the elasticity of demand by the unitary method was introduced by.
ICS Part 1 Economics Chapter 5 MCQs Test
Top Scorers Of Chapter 5 "Economics Ics Part 1 English Medium Chapter 5 Online Test" MCQ`s Test
-
A Anum Fatima 19 - Jun - 2023 00 Min 15 Sec 20/20 -
L Laiba Muqaddas 26 - Jul - 2024 04 Min 11 Sec 18/20 -
R romana 23 - Jun - 2021 08 Min 00 Sec 18/20 -
A Ali Hassan 10 - Sep - 2022 03 Min 38 Sec 17/20 -
H hamza abid 02 - Sep - 2021 10 Min 50 Sec 16/20 -
M M Akram 11 - Aug - 2021 04 Min 11 Sec 15/20 -
Z zainab nouman 18 - Apr - 2024 04 Min 46 Sec 15/20 -
H Hanif Wazir 30 - May - 2022 05 Min 29 Sec 15/20 -
N Naveera 02 - Jun - 2021 07 Min 28 Sec 15/20 -
S Samar 26 - Jun - 2021 10 Min 14 Sec 15/20 -
T Tazmeen Afaq 08 - Aug - 2023 06 Min 42 Sec 14/20 -
Z Zaina Ch 10 - May - 2024 00 Min 10 Sec 12/20 -
D Duaa 22 - Nov - 2021 03 Min 52 Sec 12/20 -
E ekta 05 - Aug - 2021 04 Min 00 Sec 12/20 -
M M.Attiq-U-Rehman 24 - Nov - 2023 04 Min 03 Sec 12/20
ICS Part 1 Economics Chapter 5 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Supply curve |
A. is vertical in long run
B. is flatter in long run
C. is same in long and short run
D. is horizontal in both short and long run
|
| 2 | The total quantity of a commodity available in or near the market which can be brought for sale at a short notice |
A. Stock
B. Supply
C. Demand
D. None of these
|
| 3 | When the percentage change in quantity demanded is greater than the percentage change in price, elasticity of demand for the product will be. |
A. Equal to unity
B. Less than unity
C. Greater than unity
D. Equal to zero
|
| 4 | The demand for a product is inelastic. In order to increase government revenue, the finance minister will : |
A. Lower down the tax rate
B. Increase the tax rate
C. Not change the tax rate
D. Double the tax rate
|
| 5 | 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 |
A. Perfectly elastic
B. Perfectly inelastic
C. Less elastic
D. More elastic
|
| 6 | When a supply of a commodity increases without change in price it is called |
A. fall in supply
B. expansion in supply
C. contraction in supply in
D. rise in supply
|
| 7 | The product which have close substitute their demand is always. |
A. More elastic
B. Perfectly elastic
C. Perfectly inelastic
D. Less elastic
|
| 8 | The method to measure the elasticity of demand is : |
A. Percentage method
B. Total outlay approach
C. Geometric approch
D. All the three
|
| 9 | If a firm makes 200 units of a good available at a price of Rs. 10 per unit, the elasticity is |
A. 0.05
B. 10
C. 20
D. indeterminate
|
| 10 | The elasticity f demand in case of substitute is called. |
A. Income elasticity of demand
B. Priceelasticity of demand
C. Crosselasticity of demand
D. None of the three
|
Test Questions