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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 price of a product double due to which its quantity demand falls to one half. The elasticity of demand for product will be:
Question # 2
When a supply of a commodity increases without change in price it is called
Question # 3
If a change in demand is brought by a change in income, of demand will be.
Question # 4
With a fall in the price of a Giffen good or inferior good its quantity demand will.
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
The demand for a product is inelastic. In order to increase government revenue, the finance minister will :
Question # 7
Which of the following shifts supply curve of cars to the right
Question # 8
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 # 9
During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to
Question # 10
Long period supply curve is
Question # 11
If the price of a product rises, quantity demand if its substitute will.
Question # 12
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 # 13
The product which have close substitute their demand is always.
Question # 14
Which one is increasing function of price
Question # 15
It describes the law of supply
Question # 16
Who present the Arc Elasticity formula for the measurement of elasticity of demand.
Question # 17
In case of perfectly elastic demand curve, the demand curve will be parallel to the :
Question # 18
An increases in demand would cause supply curve to
Question # 19
The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will.
Question # 20
Products A and B are substitutes whereas A and C are complement. With a rise in the price of product A, quantity demand of:
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