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 demand decreases by 15% due to 10% increase in Price, then elasticity of demand is	Equal to unity More than unity Less than unity Zero
2	If demand decreases by 10% due to 10% increase in Price, then elasticity of demand is	Equal to unity More than unity Less than unity Zero
3	If demand decreases by 5% due to 10% increase in Price, then elasticity of demand is	Equal to unity More than unity Less than unity Zero
4	If demand changes by more than 10% due to 10% change in price, then elasticity of demand is called	Equal to unity More than unity Less than unity Infinite
5	Id demand changes by less than 10% due to 10% change in price, then elasticity of demand is called	Equal to unity More than unity Less than unity Infinite
6	If demand changes by 10% due to 10% change in price, then elasticity of demand is called	Equal to unity More than unity Less than unity Infinite
7	Demand for the goods which have different uses, is	More elastic Less elastic Infinity Zero elastic
8	Who did present formula to measure Arc elasticity of demand	Adam Smith Marshall Allen Keynes
9	Who did present unity method to measure elasticity of demand	Adam Smith Marshall Robbins keynes
10	The goods which are jointly demanded to satisfy a want, are called	Complimentary goods Substitute goods Alternative goods inferior goods
11	The goods which can be used in place of each other, are called	Complimentary goods Substitute goods Alternative goods Jointly demanded goods
12	Which combination of the following is of joint demand	Tea and coffee Petrol and car Meat and grocery Inkpot and book
13	Elasticity of demand for the commodities which have substitutes, is	More elastic Less elastic Infinite Zero
14	When there is a very small change in demand and price of a commodity, it is called	Point elasticity Arc elasticity Cross elasticity Income elasticity
15	When there is big change in demand and price of a commodity, it is called	Point elasticity Arc elasticity Cross elasticity Income elasticity

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