First Year Economics Chapter 6 Online MCQ Test for 1st Year Economics Chapter 6 (Market Equilibrium)

This online test contains MCQs about following topics:

Determination of Market Pice ,Changes in Demand and Supply Cinditions ,Market Price ,Normal Price

ICS Part 1 Economics Chapter 6 Test

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ICS Part 1 Economics Chapter Wise Test

Online MCQ`s Test For Chapter 6 "Economics Ics Part 1 English Medium Chapter 6 Online Test"

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Economics Ics Part 1 English Medium Chapter 6 Online Test

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Question # 1

Ten rupees is the equilibrium price for good Z. If govt. fixes price at Rs. 5, there is

Question # 2

Perfectly inelastic supply curve is:

Question # 3

Markets where firms supply goods and services demanded by households are

Question # 4

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 # 5

If we know that quantities bought and sold are equal, we can conclude that

Question # 6

Market equilibrium means

Question # 7

Which one will be termed as supply of a product.

Question # 8

If price is set above equilibrium level, there will be

Question # 9

Equilibrium

Question # 10

A producers has one thousand tons of rice to be offered for sale at a certain price in future, it will be called.

Question # 11

When the supply curve of a product is parallel to the vertical axis, it would mean that;

Question # 12

When there is big change in quantity supplied resulting from a minor change inits price,its elasticity of supply will be.

Question # 13

Market Price of Perishable

Question # 14

Price of a product is determined in a free market

Question # 15

A fall fall in supply will take place due to a:

Question # 16

Demand and supply forces determine market price

Question # 17

An increases in the price of mutton provides information which

Question # 18

When price is fixed below equilibrium level, there will be

Question # 19

Demands and supply curves cross at

Question # 20

A change in price brings in quantity supplied. it will be.

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ICS Part 1 Economics Chapter 6 MCQs Test

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