First Year Economics Chapter 6 Online MCQ Test for 1st Year Economics Chapter 6 (Market Equilibrium)

This online test contains MCQs about following topics:

Determination of Market Pice ,Changes in Demand and Supply Cinditions ,Market Price ,Normal Price

ICS Part 1 Economics Chapter 6 Test

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ICS Part 1 Economics Chapter Wise Test

MCQ's Test For Chapter 6 "Economics Ics Part 1 English Medium Chapter 6 Online Test"

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Economics Ics Part 1 English Medium Chapter 6 Online Test

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Question # 1

Equilibrium

Question # 2

One of the following is not an assumption of law of supply.

Question # 3

Demands and supply curves cross at

Question # 4

Market Price of Perishable

Question # 5

Extension of supply will take place as a consequence of:

Question # 6

If equilibrium price rises but equilibrium quantity is unchanged, the cause is

Question # 7

Markets where firms supply goods and services demanded by households are

Question # 8

A rise in supply and demand in equal proportion will result in

Question # 9

An increases in the price of mutton provides information which

Question # 10

Market equilibrium means a situation where

Question # 11

The price and sales of sugar both increase. What could be the cause of this?

Question # 12

If price is set above equilibrium level, there will be

Question # 13

When the price of a product increase by 100 percent and as a consequence, its quantity supplied increase by 125 percent, Its elasticity of supply will be.

Question # 14

In case of a fall in supply.

Question # 15

When the supply curve of a product is parallel to the vertical axis, it would mean that;

Question # 16

A producers has one thousand tons of rice to be offered for sale at a certain price in future, it will be called.

Question # 17

If equilibrium price rises but equilibrium quantity remains unchanged, the cause is

Question # 18

A change in price brings in quantity supplied. it will be.

Question # 19

A decrease in demand causes the equilibrium price to

Question # 20

When price is fixed below equilibrium level, there will be

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6th Chapter

ICS Part 1 Economics Chapter 6 MCQs Test

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