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	Elasticity of demand for substitute and jointly demanded goods is called	Income elasticity Arc elasticity Cross elasticity Point elasticity
2	Elasticity of demand for luxuries is	Equal to unity More than unity Less than unity Zero
3	If demand curve is parallel to x-axis, then elasticity of demand is	Infinite Zero Equal to unity More than unity
4	If demand curve is parallel to y-axis, then elasticity of demand is	Equal to unity More than unity Less than unity Zero
5	Slope of demand curve of exceptions of law of demand is	Negative Positive Zero Fixed
6	When demand for a commodity changes due to the change in price of some other commodity, it is called	Point elasticity Arc elasticity income elasticity cross elasticity
7	Demand for good like Television and VCR is	Less elastic More elastic Perfectly inelastic Infinitely elastic
8	If demand does not change, despite a fall in price, is called	Fall of demand Rise of demand Contraction of demand Extension of demand
9	Under certain conditions, slope of demand curve is	Negative Positive Zero Fixed
10	Relationship between price of a commodity and demand for it exists	Positive Inverse Indirect None of these
11	Slope of demand curve is	Negative Positive zero fixed
12	If there is big change in Price and demand, it is called	Arc elasticity Point elasticity Income elasticity Cross elasticity
13	If there is slight change in price and demand, it is called	Arc elasticity Point elasticity Income elasticity Cross elasticity
14	If demand decreases by 15% due to 10% increase in Price, then elasticity of demand is	Equal to unity More than unity Less than unity Zero
15	If demand decreases by 10% due to 10% increase in Price, then elasticity of demand is	Equal to unity More than unity Less than unity Zero

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