11th class Principles of Economics chapter 5 online mcq test with answers for I.Com part 1 Principles of Economics chapter 5(Laws of Return)

Principles of Economics Icom Part 1 English Medium Chapter 5 Online Test

Sr. #	Questions	Answers Choice
1	If supply does not change, then due to rise in demand, equilibrium price.	Increases Decreases Does not change Becomes zero
2	In the market period supply is:	Variable Fixed Zero Positive
3	When demand and supply rise in equal propoertion, the equilibrium price will:	Fall Rise Constant None of those
4	Supply of the one of the following is not fixed:	Vegetable Fruit Milk Motor bike
5	Supply is Fixed of:	Perishable goods Free goods Durable goods Substitute goods
6	When Demand > Supply it will be:	Shortage Less supply More demand Surplus
7	Equilibrium price is determined in.	Perfect market Imperfect market Monopoly None of these
8	Supply curve of perishable goods is:	Horizontal Vertical Infinite All of them
9	Price of perishable goods is determined in:	Very short period Very long period Day to Day Both (a) and (c)
10	Equilibrium price is determined where:	D = S D > S D < S Both (b) and (c)
11	Market equilibrium take place where:	D = S D > S D < S Both (b) and (c)
12	Under constant return, the slope of marginal product curve is	Positive Negative Infinite Zero
13	Under increasing return, the slope of marginal product curve is	Positive Negative Infinite Zero
14	Under decreasing return, the slope of marginal product curve is	Negative Positive Infinite Zero
15	When marginal product is zero, total product is	Maximum Minimum Negative Zero