| 1 |
When demand and supply rise equally then equilibrium price |
- A. isles
- B. is more
- C. Remains the source
- D. Zero
|
| 2 |
Slope of demand curve is |
- A. Negative
- B. Positive
- C. zero
- D. fixed
|
| 3 |
The duty of a market is not to |
- A. make exchange of goods
- B. contact buyers and sellers
- C. determine price
- D. give maximum output
|
| 4 |
If demand is not influenced by the changes in price, elasticity of demand will be |
- A. Equal to unity
- B. More than unity
- C. Less than unity
- D. Zero
|
| 5 |
According to law of demand, when price of a commodity decreases, then demand curve |
- A. Moves from left to right upward
- B. Moves from left to right downward
- C. Moves vertically
- D. Moves horizontally
|
| 6 |
If quantity demand changes due to the change in income, it is called: |
- A. Point Elasticity of demand
- B. Arc Elasticity of demand
- C. Income Elasticity of demand
- D. Price Elasticity of demand
|
| 7 |
If there is slight change in price and demand, it is called |
- A. Arc elasticity
- B. Point elasticity
- C. Income elasticity
- D. Cross elasticity
|
| 8 |
Due to rise in demand, demand curve shifts to |
- A. Right
- B. Left
- C. Both sides
- D. None of these
|
| 9 |
When there is big change in demand and price of a commodity, it is called |
- A. Point elasticity
- B. Arc elasticity
- C. Cross elasticity
- D. Income elasticity
|
| 10 |
If supply rises more proportionately than that of demand, then |
- A. Equilibrium price increases
- B. Equilibrium price decreases
- C. Equilibrium price does not change
- D. Equilibrium quantity decreases
|
