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

What is point elasticity of demand ?

  • Ans 1: When a small change in price brings a small change in quantity demanded it is called point elasticity of demand.
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ICOM Part 1 Economics English Medium Chapter 3 Short Questions Preparation - Set 3

Question # 1

Write four practical importance of elasticity of demand.

  • Ans 1: 1. Importance for finance minister.
    2. Importance for monopolist.
    3. Fixation of wages.
    4. Prices of joint products.
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11th Class Principles of Economics Chapter 3 Preparation

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