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
Demand and supply forces determine market price
Question # 2
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 # 3
A change in price brings in quantity supplied. it will be.
Question # 4
A decrease in demand causes the equilibrium price to
Question # 5
If equilibrium price rises but equilibrium quantity is unchanged, the cause is
Question # 6
The price and sales of sugar both increase. What could be the cause of this?
Question # 7
When demand is perfectly elastic, an increase in supply will result in
Question # 8
A rise in supply and demand in equal proportion will result in
Question # 9
When price is fixed below equilibrium level, there will be
Question # 10
If equilibrium price rises but equilibrium quantity remains unchanged, the cause is
Question # 11
When the supply curve of a product is parallel to the vertical axis, it would mean that;
Question # 12
With an increase in cost of production, price of the product rises while supply of the product will.
Question # 13
Equilibrium
Question # 14
When there is big change in quantity supplied resulting from a minor change inits price,its elasticity of supply will be.
Question # 15
Price of a product is determined in a free market
Question # 16
Perfectly inelastic supply curve is:
Question # 17
Market equilibrium means a situation where
Question # 18
In case of a fall in supply.
Question # 19
Ten rupees is the equilibrium price for good Z. If govt. fixes price at Rs. 5, there is
Question # 20
One of the following is not an assumption of law of supply.
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 -
U Unknown 02 - Aug - 2018 04 Min 59 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
ICS Part 1 Economics Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Market equilibrium means a situation where |
A. Qs= Qd
B. Qs= Qp
C. Qd= Qp
D. Qq= Qp
|
| 2 | Which one will be termed as supply of a product. |
A. One tone potato in cold storage
B. One ton rice offered for sale in market
C. One ton rice brought for sale in market at a certain price.
D. None of the three
|
| 3 | In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the right. Then |
A. price will fall
B. price remains same
C. price will rise
D. quantity rises
|
| 4 | Market equilibrium means |
A. number of buyers and sellers are equal
B. demand and supply of commodity are equal
C. no price is changing
D. prices rise very slowly
|
| 5 | In case of a fall in supply. |
A. Quantity supplied falls at the same price.
B. Quantity supplied rises at the same price.
C. Quantity supplied remain at the lower price.
D. None of the three
|
| 6 | 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
|
| 7 | A rise in supply and demand in equal proportion will result in |
A. increase in equilibrium price and decrease in equilibrium quantity
B. decreases in equilibrium price and increases in equilibrium quantity
C. no change in equilibrium price and increases in equilibrium quantity
D. increases in equilibrium price and no change in equilibrium quantity
|
| 8 | 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
|
| 9 | The price and sales of sugar both increase. What could be the cause of this? |
A. a decrease in the income of the consumers.
B. a decrease in the tax on sugar
C. An increase in the wages of workers in the sugar industry
D. An increase in the price of sugar substitutes
|
| 10 | If equilibrium price rises but equilibrium quantity remains unchanged, the cause is |
A. supply and demand both increase equally
B. supply and demand both decrease equally
C. supply decreases and demand increases
D. supply increases and demand decreases
|
Test Questions
Share your comments & questions here
No comments yet. Be the first to comment!