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 falls more proportionately then that of supply then	Equilibrium price increases Equilibrium price decreases Equilibrium price does not change Equilibrium quantity increases
2	If demand and supply both rise in the same proportion, then	Equilibrium price decreases Equilibrium price does not change Equilibrium price increases Equilibrium quantity decreases
3	If supply rises more proportionately than that of demand, then	Equilibrium price increases Equilibrium price decreases Equilibrium price does not change Equilibrium quantity decreases
4	If demand rises more proportionately than that of supply, then	Equilibrium price increases Equilibrium price decreases Equilibrium price does not change Equilibrium quantity decreases
5	If demand does not change, then due to fall of supply	Equilibrium price increases Equilibrium price decreases Equilibrium quantity increases
6	If demand does not change, then due to rise of supply	Equilibrium price increases Equilibrium price decreases Equilibrium price does not change Equilibrium quantity decreases
7	If supply does not change, then due to fall of demand	Equilibrium price decreases Equilibrium price increases Equilibrium price does not change Equilibrium quantity increases
8	If supply does not change, then due to rise of demand	Equilibrium price increases Equilibrium price decreases Equilibrium price does not change Equilibrium quantity decreases
9	If supply is fixed then due to fall of demand	Equilibrium price decreases Equilibrium quantity increases Equilibrium price increases Equilibrium price does not change
10	Supply of perishable goods is	More elastic less elastic Perfectly inelastic infinite elasticity of supply
11	The supply curve of Fish is	More elastic Less elastic Inelastic Infinite elastic
12	If same amount of good is supplied at higher price, it is called	Expansion of supply Contraction of supply Fall in supply Rise in supply
13	The cause of shifting of supply curve is	Change in price Other factors change in serving change in demand
14	Which one is increasing function of price	Demand Supply Utility Consumption
15	According to law of supply which factor changes the supply	cost of producton price climatic conditions level of income

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