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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
The product which have close substitute their demand is always.
Question # 2
If a change in demand is brought by a change in income, of demand will be.
Question # 3
Elasticity of a demand for product will be greater then unity if, with a fall in its price, total expenditure of consumer.
Question # 4
During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to
Question # 5
If a firm makes 200 units of a good available at a price of Rs. 10 per unit, the elasticity is
Question # 6
The demand for a product is inelastic. In order to increase government revenue, the finance minister will :
Question # 7
Other things remaining the same, quantity supplied of a commodity increases with rise in price and decreases with fall in price are called
Question # 8
The method to measure the elasticity of demand is :
Question # 9
Which one of the following pairs represent complementary demand for a product.
Question # 10
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 # 11
The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will.
Question # 12
If the price of a product rises, quantity demand if its substitute will.
Question # 13
With a fall in the price of a Giffen good or inferior good its quantity demand will.
Question # 14
With a fall in price quantity demand changes in such a way that total expenditure of the consumer remain constant, elasticity of demand will be.
Question # 15
Who present the Arc Elasticity formula for the measurement of elasticity of demand.
Question # 16
If price changes by one % and supply changes by 2% then supply is
Question # 17
If elasticity of supply is one, supply curve will be
Question # 18
Which of the following shifts supply curve of cars to the right
Question # 19
If the price of a product increase from Rs. 12 per unit and as a consequence quantity demand of the product falls from 100 units to 50 units . The price elasticity of the product will be.
Question # 20
What best explains a shift in market supply curve to the right?
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Biology Chapter 1 MCQ - PDF
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