| 1 |
Which one is increasing function of price |
- A. Demand
- B. Supply
- C. Utility
- D. Consumption
|
| 2 |
If elasticity of supply is equal to unity then extending supply curve downward, it passes through or crosses |
- A. y-axis
- B. x-axis
- C. Point of origin
- D. Becomes vertical
|
| 3 |
Demand for luxuries goods is: |
- A. Perfectly elastic
- B. Less elastic
- C. Perfectly inelastic
- D. More elastic
|
| 4 |
Degree of change in quantity supplied due to change in price is called |
- A. Extension of supply
- B. Rise of supply
- C. Elasticity of supply
- D. None of three
|
| 5 |
If supply goes on increasing due to a slight increase in price, then elasticity of supply is called |
- A. Zero
- B. Infinite
- C. Equal to unity
- D. More than unity
|
| 6 |
Vertical supply curve means |
- A. Same quantity supplied at differented price
- B. Different quantities supplied at one price
- C. Different quantities supplied at different prices
- D. None of three
|
| 7 |
Kinds of supply according to period of time are |
- A. Two
- B. Three
- C. Four
- D. Five
|
| 8 |
If the total expenditure of the consumer does not change due to increase or decrease (change) in price, then nature of elasticity of demand will be |
- A. Equal to unity
- B. Less than unity
- C. More than unity
- D. Elasticity of demand = zero
|
| 9 |
Demand for luxuries in |
- A. Les elastic
- B. More elastic
- C. Perfectly elastic
- D. Perfectly inelastic
|
| 10 |
Usually market price is ____________ normal price |
- A. Equal to
- B. Less than
- C. More than
- D. None of these
|
