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Economics Ics Part 1 English Medium Chapter 4 Online Test
| Sr. # | Questions | Answers Choice |
|---|---|---|
| 1 | One of the following will not cause a rise and fall on demand. | Change in income Change in weather Discovery of a substitute Distribution of income remaining the same |
| 2 | One of the following is not an exception the law of demand. | Very high price products Very low price products Ignorance of consumers Non of the above |
| 3 | The demand curve is negatively sloped due to | Income effect Substitution effect Price effect All the three |
| 4 | The law of demand will not be apply in case of | Inferior goods Superior goods Normal goods Non of them |
| 5 | When the price of a product falls and as a concequence the demand for the product increase. it will be. | Rise of demands Fall of demand Extension of demand Contraction on demand |
| 6 | When the demand of a product rises due to factors except price it will be. | Extension of demands Rise of demand Contraction of demand Extension of demand |
| 7 | The demand curve slopes downward from left to right because of: | Income effect Substitution effect Entry of new buyers All of the above |
| 8 | Wit rapid economic growth in a country the individual demand curve will: | Rise Fall Extend Contract |
| 9 | The law demand will not be valid in case of. | Very high price products Normal goods Price effect Income effects |
| 10 | The demand of a good falls when. | Its price falls Price of the substitute changes its price rises It price remain constant |
| 11 | The demand of a will expand when: | Other things do not remain constant. Price of the products changes. Value of money falls. None of the three |
| 12 | Market demand curve is a summation of all individual demand curves as | Vertical horizontal mathematical local |
| 13 | If demand has unit price elasticity, a change in price causes | increase in total revenue decrease in total revenue no change in total revenue indeterminate |
| 14 | To say that two goods are unrelated, their cross price elasticity of demand should be | less than 0 greater than 0 equal to 0 1 |
| 15 | Which one is not determinant of demand | tastes income method of production price |
| 16 | If price elasticity of demand is very low, the commodity is | necessity luxury substitute not available |
| 17 | Cross elasticity of Suzuki and Honda cars will be | Positive negative zero infinite |
| 18 | A horizontal demand curve has a price elasticity of | zero infinity 1 variable |
| 19 | A seller can increase his sales revenue by charging a lower price, if the demand has | e < 1 e = 1 e > 1 e = 0 |
| 20 | Which one can cause a change in demand |
change in income change in supply change in tastes a and c of above |
