11th class Principles of Economics chapter 3 online mcq test with answers for I.Com part 1 Principles of Economics chapter 3(Demand and Supply)

Principles of Economics Icom Part 1 English Medium Chapter 3 Online Test

Sr. #	Questions	Answers Choice
1	If supply increase due to increase in price, it is called	Extension of supply Contraction of supply Rise of supply Fall of supply
2	Due to fall in demand, curve shifts to	Right Left Both sides None of these
3	Due to rise in demand, demand curve shifts to	Right Left Both sides None of these
4	Non elastic demand curve is	positive negative vertical horizontal
5	What functional relationship is present between demand and price	positive inverse increasing none of these
6	With an increase in the price of any good its substitutes will have	a fall in its price an increase in its prices an increase in its demand a decrease in its price
7	The demand curve slopes	upwards Horizontal vertical downward to the right
8	The cause of rise and fall of demand is	income price population Both 1st and 3rd
9	The cause of extension and contraction of demand is	Income Price Population Technology
10	Second name of unitary method is	Method of total satisfication total expenditure method total revenue method Both 2nd and 3rd
11	When there are small and minor changes in price and demand then	Price elasticity Income elasticity Cross elasticity Point elasticity
12	Another name of unitary method is	Total satisfiaction method Total expenditure method Total revenue method Both 2nd and 3rd
13	If quantity demanded for a commodity changes due to the change in income, it is called	Price elasticity Point elasticity Cross elasticity Income elasticity
14	In order to satisfy some wants, more than one commodities are needed. Demand for such commodities is called	Joint demand Composite demand Derived demand Direct demand
15	Demand for the commodities having different uses	Less elastic More elastic Perfectly inelastic Infinitely elastic

Download This Set