[{"id":236440,"question":"If 50% change in demand in response of 30% change in price then:","choices":[{"text":"Elasticity of demand = 1","value":"A"},{"text":"Elasticity of demand < 1","value":"B"},{"text":"Elasticity of demand > 1","value":"C"},{"text":"Elasticity of demand = 0","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236439,"question":"If 50% change in demand in reposne of 50% change in price then:","choices":[{"text":"Elasticity of demand = 1","value":"A"},{"text":"Elasticity of demand < 1","value":"B"},{"text":"Elasticity of demand > 1","value":"C"},{"text":"Elasticity of demand = 0","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":236438,"question":"If demand did not influence by the charge in price, that is called:","choices":[{"text":"Elasticity of demand = 1","value":"A"},{"text":"Elasticity of demand < 1","value":"B"},{"text":"Elasticity of demand > 1","value":"C"},{"text":"Elasticity of demand = 0","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236437,"question":"Flux method is also known as:","choices":[{"text":"Percentage method","value":"A"},{"text":"Unitary method","value":"B"},{"text":"Total expenditure method","value":"C"},{"text":"All of them","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":236436,"question":"If two goods are substitute, cross Elasticity of demand will be:","choices":[{"text":"Zero","value":"A"},{"text":"Infinite","value":"B"},{"text":"Positive","value":"C"},{"text":"Negative","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236435,"question":"If two goods are complimentary, cross Elasticity of demand will be:","choices":[{"text":"Zero","value":"A"},{"text":"Infinite","value":"B"},{"text":"Positive","value":"C"},{"text":"Negative","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236434,"question":"Measurement of arc elasticity of demand was present:","choices":[{"text":"Keynes","value":"A"},{"text":"Marshall","value":"B"},{"text":"Adam smith","value":"C"},{"text":"R.G.D Allen","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236433,"question":"The goods which are jointly demanded are called:","choices":[{"text":"Substitute goods","value":"A"},{"text":"Complimentary goods","value":"B"},{"text":"Alternative goods","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":236432,"question":"Demand for luxuries goods is:","choices":[{"text":"Perfectly elastic","value":"A"},{"text":"Less elastic","value":"B"},{"text":"Perfectly inelastic","value":"C"},{"text":"More elastic","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":236431,"question":"Demand for basic necessities of life is:","choices":[{"text":"Perfectly elastic","value":"A"},{"text":"Less elastic","value":"B"},{"text":"Perfectly inelastic","value":"C"},{"text":"More elastic","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":236430,"question":"One of the following is not substitute good:","choices":[{"text":"Mobile and charger","value":"A"},{"text":"Petrol and CNG","value":"B"},{"text":"Burger and Shawarma","value":"C"},{"text":"Both b & c","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":236429,"question":"A big change in demand and price is called:","choices":[{"text":"PointElasticity of demand","value":"A"},{"text":"ArcElasticity of demand","value":"B"},{"text":"CrossElasticity of demand","value":"C"},{"text":"PriceElasticity of demand","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":236428,"question":"A slight change in demand and price is called:","choices":[{"text":"Point Elasticity of demand","value":"A"},{"text":"ArcElasticity of demand","value":"B"},{"text":"CrossElasticity of demand","value":"C"},{"text":"PriceElasticity of demand","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":236427,"question":"If quantity demand changes due to the change in income, it is called:","choices":[{"text":"Point Elasticity of demand","value":"A"},{"text":"Arc Elasticity of demand","value":"B"},{"text":"Income Elasticity of demand","value":"C"},{"text":"Price Elasticity of demand","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":236426,"question":"If the rate of change in price and quantity demand is in equal ratio, then Elasticity of demand is:","choices":[{"text":"Equal to zero","value":"A"},{"text":"Equal to one","value":"B"},{"text":"Smaller than one","value":"C"},{"text":"Greater than one","value":"D"},{"value":"E"}],"correctAnswer":2}]