| 1 |
Price determined with the equilibrium of demand and supply on some day |
- A. Short period price
- B. Long period price
- C. Market price
- D. Normal price
|
| 2 |
Demand for Giffen goods is: |
- A. Negative
- B. Vertical
- C. Positive
- D. All of them
|
| 3 |
If demand decreases by 5% due to 10% increase in Price, then elasticity of demand is |
- A. Equal to unity
- B. More than unity
- C. Less than unity
- D. Zero
|
| 4 |
When there is a very small change in demand and price of a commodity, it is called |
- A. Point elasticity
- B. Arc elasticity
- C. Cross elasticity
- D. Income elasticity
|
| 5 |
The cause of shifting of supply curve is |
- A. Change in price
- B. Other factors
- C. change in serving
- D. change in demand
|
| 6 |
If the demand for a commodity is less elastic, then an entrepreneur in order to increase his profit |
- A. Will increase its price
- B. Will decrease its price
- C. Will not change its price
- D. None of these
|
| 7 |
Who does determine the reserve price |
- A. Buyer
- B. Seller
- C. Government
- D. District adminitration
|
| 8 |
In case of rise in demand, demand curve shifts: |
- A. Right side
- B. Downward
- C. Upward
- D. (a) and (c)
|
| 9 |
Increasing function of price is |
- A. Demand
- B. Supply
- C. Utility
- D. Cosnsumption
|
| 10 |
Finance minister imposes tax on the goods having more elastic demand |
- A. At low rate
- B. At high rate
- C. At the same rate
- D. At zero rate
|
