Economics Ics Part 1 English Medium Chapter 5 Online Test

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  • Chapter Name5
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Economics Ics Part 1 English Medium Chapter 5 Online Test

  • Total Questions20

  • Time Allowed30

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Economics Ics Part 1 English Medium Chapter 5 Online Test

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Question # 1

Supply curve

Question # 2

If price changes by one % and supply changes by 2% then supply is

Question # 3

A schedule of the amount of a good that would be offered for sale at all possible prices, at any one instant of time or during any period of time are called

Question # 4

The method to measure the elasticity of demand is :

Question # 5

When the percentage change in quantity demanded is greater than the percentage change in price, elasticity of demand for the product will be.

Question # 6

An increases in demand would cause supply curve to

Question # 7

Long period supply curve is

Question # 8

If the price of a product increase from Rs. 12 per unit and as a consequence quantity demand of the product falls from 100 units to 50 units . The price elasticity of the product will be.

Question # 9

Which one is increasing function of price

Question # 10

Supply of a commodity means

Question # 11

In case of perfectly elastic demand curve, the demand curve will be parallel to the.

Question # 12

With a fall in price quantity demand changes in such a way that total expenditure of the consumer remain constant, elasticity of demand will be.

Question # 13

Elasticity of demand in case of minor change in price and quantity demand will be .

Question # 14

The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will.

Question # 15

The composite demand for a product is generally:

Question # 16

If the price of a product rises, quantity demand if its substitute will.

Question # 17

With a fall in the price of a Giffen good or inferior good its quantity demand will.

Question # 18

During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to

Question # 19

If a firm makes 200 units of a good available at a price of Rs. 10 per unit, the elasticity is

Question # 20

The product which have close substitute their demand is always.

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