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:
Determination of Market Pice ,Changes in Demand and Supply Cinditions ,Market Price ,Normal Price
MCQ's Test For Chapter 6 "Economics Ics Part 1 English Medium Chapter 6 Online Test"
Try The MCQ's Test For Chapter 6 "Economics Ics Part 1 English Medium Chapter 6 Online Test"
-
Total Questions20
-
Time Allowed30
Economics Ics Part 1 English Medium Chapter 6 Online Test
00:00
Question # 1
One of the following is not an assumption of law of supply.
Question # 2
If we know that quantities bought and sold are equal, we can conclude that
Question # 3
With an increase in cost of production, price of the product rises while supply of the product will.
Question # 4
A decrease in demand causes the equilibrium price to
Question # 5
When demand is perfectly elastic, an increase in supply will result in
Question # 6
Equilibrium
Question # 7
When the price of a product increase by 100 percent and as a consequence, its quantity supplied increase by 125 percent, Its elasticity of supply will be.
Question # 8
The price and sales of sugar both increase. What could be the cause of this?
Question # 9
When the supply curve of a product is parallel to the vertical axis, it would mean that;
Question # 10
Demands and supply curves cross at
Question # 11
In case of a fall in supply.
Question # 12
If equilibrium price rises but equilibrium quantity remains unchanged, the cause is
Question # 13
An increases in the price of mutton provides information which
Question # 14
A change in price brings in quantity supplied. it will be.
Question # 15
In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the right. Then
Question # 16
If equilibrium price rises but equilibrium quantity is unchanged, the cause is
Question # 17
Market equilibrium means a situation where
Question # 18
Perfectly inelastic supply curve is:
Question # 19
Market Price of Perishable
Question # 20
Markets where firms supply goods and services demanded by households are
ICS Part 1 Economics Chapter 6 MCQs Test
Top Scorers Of Chapter 6 "Economics Ics Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
-
A Anum Fatima 19 - Jun - 2023 00 Min 08 Sec 20/20 -
R romana 16 - Apr - 2021 20 Min 40 Sec 20/20 -
J javeria naeem 12 - Aug - 2018 04 Min 15 Sec 19/20 -
H Hanif Wazir 30 - May - 2022 06 Min 36 Sec 19/20 -
T Tanzeela saeed 14 - Dec - 2020 04 Min 01 Sec 18/20 -
R romana 31 - Aug - 2018 17 Min 20 Sec 18/20 -
M Maheen 19 - Feb - 2021 04 Min 46 Sec 17/20 -
S Sharika usmani 08 - Jul - 2021 22 Min 50 Sec 17/20 -
M M.Attiq-U-Rehman 24 - Nov - 2023 04 Min 28 Sec 16/20 -
Z Zaina Ch 10 - May - 2024 02 Min 07 Sec 15/20 -
M Muhammad umer 28 - Sep - 2018 11 Min 05 Sec 14/20 -
N nachiketa sharma 13 - Dec - 2020 13 Min 15 Sec 14/20 -
L Laiba Muqaddas 26 - Jul - 2024 04 Min 41 Sec 13/20 -
N nazakat hussain 22 - Apr - 2019 05 Min 35 Sec 13/20 -
A Ali Hassan 10 - Sep - 2022 07 Min 36 Sec 13/20
ICS Part 1 Economics Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When price is fixed below equilibrium level, there will be |
A. surplus commodity in the market
B. shortage of commodity in the market
C. supply curve will shift
D. demand curve will shift
|
| 2 | When demand is perfectly elastic, an increase in supply will result in |
A. decrease in quantity sold
B. increase in quantity sold
C. fall in price
D. b and c above
|
| 3 | When the supply curve of a product is parallel to the vertical axis, it would mean that; |
A. Different quantities of a product are supplied at the same price.
B. Different quantities of a product are supplied at different price.
C. Same quantities of a product are supplied at different price.
D. None of three
|
| 4 | Extension of supply will take place as a consequence of: |
A. Change in price
B. Change in population
C. Change in technology
D. Change in money supply
|
| 5 | A change in price brings in quantity supplied. it will be. |
A. Rise in supply
B. Contraction of supply
C. Fall in supply
D. Extension of supply
|
| 6 | Markets where firms supply goods and services demanded by households are |
A. factor market
B. product market
C. open markets
D. resource markets
|
| 7 | Ten rupees is the equilibrium price for good Z. If govt. fixes price at Rs. 5, there is |
A. a shortage
B. a surplus
C. excess supply
D. loss
|
| 8 | When the price of a product increase by 100 percent and as a consequence, its quantity supplied increase by 125 percent, Its elasticity of supply will be. |
A. Less than unity
B. Greater than unity
C. Equal to unity
D. Equal to zero
|
| 9 | Perfectly inelastic supply curve is: |
A. Parallel to vertical axis
B. Parallel to horizontal axis
C. Rises upward to the right
D. Falls downward to the right
|
| 10 | Equilibrium |
A. is a state that can never be achieved in economics
B. is an important idea for predicting economics changes
C. is a stable condition
D. is an unstable condition
|
Test Questions
Share your comments & questions here
No comments yet. Be the first to comment!