I.Com Part 1 Principles of Economics Chapter 3 Demand and Supply Short Question Preparation


11th Class Principles of Economics
Chapter 3 Demand and Supply Preparation

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11th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 3 "ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation "

Try The Short Questions For ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation

  • Total Questions10

  • Available Sets3

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Principles of Economics ( English Medium) - ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation

Question # 1

Write four factors effecting elasticity of demand.

  • Ans 1: 1. Demand for basic necessities of life is less elastic.
    2. Demand for luxury is more elastic.
    3. Substitute goods have more elastic demand.
    4. Good having several uses is more elastic demand.
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Prepare Complete Set Wise Questions For Chapter 3 "ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation "

ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation - Set 1

Question # 1

Write four factors effecting elasticity of demand.

  • Ans 1: 1. Demand for basic necessities of life is less elastic.
    2. Demand for luxury is more elastic.
    3. Substitute goods have more elastic demand.
    4. Good having several uses is more elastic demand.
Submit

ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation - Set 2

Question # 1

Define law of demand.

  • Ans 1: When price of any commodity decreases, its quantity demanded increases and when price increases, its quantity demanded decreases if other things do not change.
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ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation - Set 3

Question # 1

What are substitute goods ?

  • Ans 1: Goods which can be used in place of other goods are known as substitute goods. Pepsi and coke, what and rice, beef and mutton are the examples of substitute goods.
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11th Class Principles of Economics Chapter 3 Preparation

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