11th Class ICom Part 1 Principles of Economics Chapter Wise Online MCQ Test With Answers PDF English Medium

Principles of Economics Icom Part 1 English Medium Online Test

Sr. #	Questions	Answers Choice
1	If supply rises more proportionately than that of demand, then	Equilibrium price increases Equilibrium price decreases Equilibrium price does not change Equilibrium quantity decreases
2	If demand rises more proportionately than that of supply, then	Equilibrium price increases Equilibrium price decreases Equilibrium price does not change Equilibrium quantity decreases
3	If demand does not change, then due to fall of supply	Equilibrium price increases Equilibrium price decreases Equilibrium quantity increases
4	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
5	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
6	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
7	If supply is fixed then due to fall of demand	Equilibrium price decreases Equilibrium quantity increases Equilibrium price increases Equilibrium price does not change
8	Supply of perishable goods is	More elastic less elastic Perfectly inelastic infinite elasticity of supply
9	The supply curve of Fish is	More elastic Less elastic Inelastic Infinite elastic
10	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
11	The cause of shifting of supply curve is	Change in price Other factors change in serving change in demand
12	Which one is increasing function of price	Demand Supply Utility Consumption
13	According to law of supply which factor changes the supply	cost of producton price climatic conditions level of income
14	Supply means	total money of a specific producer Number of buyers quantity of goods offered for sale at different prices purchasing power of quantity supplied
15	By increasing the cost of production, the supply	Extends contracts Falls Rises

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