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

Start Chapter 5 Test

ICS Part 1 Economics Chapter Wise Test

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

Start Test Download PDF

Economics Ics Part 1 English Medium Chapter 5 Online Test

00:00
Question # 1

Which one is increasing function of price

Question # 2

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

Question # 3

Supply curve will shift when

Question # 4

The elasticity f demand in case of substitute is called.

Question # 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

Question # 6

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

Question # 7

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 # 8

If the price of a product rises, quantity demand if its substitute will.

Question # 9

What best explains a shift in market supply curve to the right?

Question # 10

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 # 11

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 # 12

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

Question # 13

The method to measure the elasticity of demand is :

Question # 14

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

Question # 15

The total quantity of a commodity available in or near the market which can be brought for sale at a short notice

Question # 16

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

Question # 17

With a fall in the price of a Giffen good or inferior good its quantity demand will.

Question # 18

An increases in demand would cause supply curve to

Question # 19

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

Question # 20

The composite demand for a product is generally:

Submit

Prepare Complete Set Wise Chapter 5 "Economics Ics Part 1 English Medium Chapter 5 Online Test" MCQs Online With Answers


ic-science-white
Economics
5th Chapter

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

Test Questions

Is this page helpful?

× WhatsApp Banner