[{"id":100494,"question":"If equilibrium price rises but equilibrium quantity remains unchanged, the cause is","choices":[{"text":"supply and demand both increase equally","value":"A"},{"text":"supply and demand both decrease equally","value":"B"},{"text":"supply decreases and demand increases","value":"C"},{"text":"supply increases and demand decreases","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100493,"question":"When price is fixed below equilibrium level, there will be","choices":[{"text":"surplus commodity in the market","value":"A"},{"text":"shortage of commodity in the market","value":"B"},{"text":"supply curve will shift","value":"C"},{"text":"demand curve will shift","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100492,"question":"A decrease in demand causes the equilibrium price to","choices":[{"text":"rise","value":"A"},{"text":"fall","value":"B"},{"text":"remain constant","value":"C"},{"text":"indeterminate","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100491,"question":"If a firm makes 200 units of a good available at a price of Rs. 10 per unit, the elasticity is","choices":[{"text":"0.05","value":"A"},{"text":"10","value":"B"},{"text":"20","value":"C"},{"text":"indeterminate","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100490,"question":"Long period supply curve is","choices":[{"text":"relatively flatter","value":"A"},{"text":"relatively steeper","value":"B"},{"text":"more elastic","value":"C"},{"text":"a and c of above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100489,"question":"Which of the following shifts supply curve of cars to the right","choices":[{"text":"tax on new cars","value":"A"},{"text":"increase in wages of workers","value":"B"},{"text":"decrease in steel price","value":"C"},{"text":"a successful promotion campaign by sellers","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100488,"question":"If elasticity of supply is one, supply curve will be","choices":[{"text":"horizontal ","value":"A"},{"text":"vertical ","value":"B"},{"text":"passing through origin ","value":"C"},{"text":"touching x-axis ","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100487,"question":"Supply of a commodity means","choices":[{"text":"willingness to sell a certain quantity","value":"A"},{"text":"physical stocks available","value":"B"},{"text":"planned production","value":"C"},{"text":"total production in a given period","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100486,"question":"What best explains a shift in market supply curve to the right?","choices":[{"text":"an advertising campaign is successful in promoting the good","value":"A"},{"text":"a new technique makes it cheaper to produce the good","value":"B"},{"text":"the government introduces a tax on the good","value":"C"},{"text":"the price of raw materials increases","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100485,"question":"When a supply of a commodity increases without change in price it is called","choices":[{"text":"fall in supply","value":"A"},{"text":"expansion in supply","value":"B"},{"text":"contraction in supply in","value":"C"},{"text":"rise in supply","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100482,"question":"During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to","choices":[{"text":"rightward","value":"A"},{"text":"leftward","value":"B"},{"text":"downward","value":"C"},{"text":"no direction","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100481,"question":"Supply curve","choices":[{"text":"is vertical in long run","value":"A"},{"text":"is flatter in long run","value":"B"},{"text":"is same in long and short run","value":"C"},{"text":"is horizontal in both short and long run","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":100480,"question":"If elasticity of supply is greater than one. supply curve will be","choices":[{"text":"horizontal","value":"A"},{"text":"vertical","value":"B"},{"text":"passing through origin","value":"C"},{"text":"touching y-axis","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100479,"question":"If price changes by one % and supply changes by 2% then supply is","choices":[{"text":"elastic","value":"A"},{"text":"inelastic","value":"B"},{"text":"indeterminate","value":"C"},{"text":"static","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":100478,"question":"An increases in demand would cause supply curve to","choices":[{"text":"shift to the left","value":"A"},{"text":"shift to the right","value":"B"},{"text":"change in slope of supply curve","value":"C"},{"text":"no effect on supply","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100477,"question":"Supply curve will shift when","choices":[{"text":"price falls","value":"A"},{"text":"price rises","value":"B"},{"text":"demand shifts","value":"C"},{"text":"technology changes","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100476,"question":"It describes the law of supply","choices":[{"text":"supply curve","value":"A"},{"text":"supply schedule","value":"B"},{"text":"supply equation","value":"C"},{"text":"all the three","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":100475,"question":"Which one is increasing function of price","choices":[{"text":"demand","value":"A"},{"text":"utility","value":"B"},{"text":"supply","value":"C"},{"text":"consumption","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100474,"question":"Price elastic of demand measures","choices":[{"text":"change in price caused by changes in demand","value":"A"},{"text":"the rate of change of sales","value":"B"},{"text":"the responsiveness of demand to price changes","value":"C"},{"text":"the value of sales at a given price","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":100473,"question":"If price and total revenue move in the same direction, then demand is","choices":[{"text":"inelastic","value":"A"},{"text":"elastic","value":"B"},{"text":"unrelated","value":"C"},{"text":"perfectly elastic","value":"D"},{"value":"E"}],"correctAnswer":1}]