[{"id":133548,"question":"Elasticity of demand for durable goods is","choices":[{"text":"More elastic","value":"A"},{"text":"Less elastic","value":"B"},{"text":"Infinte","value":"C"},{"text":"Zero","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133547,"question":"Cause of shifting of demand curve is","choices":[{"text":"Change in price","value":"A"},{"text":"Desire","value":"B"},{"text":"Other factors","value":"C"},{"text":"Exceptions","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":133546,"question":"Quantity of a commodity which a person is ready to purchase at a particular price, is called","choices":[{"text":"Individual demand","value":"A"},{"text":"Market demand","value":"B"},{"text":"Supply","value":"C"},{"text":"Market Supply","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133545,"question":"Demand for a commodity means","choices":[{"text":"Desire to purchase","value":"A"},{"text":"Power to purchase","value":"B"},{"text":"Price of commodity","value":"C"},{"text":"All the three","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":133544,"question":"Quantity of a commodity which the consumers are ready to purchase at a particular price, is called","choices":[{"text":"Demand","value":"A"},{"text":"Supply","value":"B"},{"text":"Stock","value":"C"},{"text":"Demand and supply","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133543,"question":"When demand curve shifts leftward (or downward), it is called","choices":[{"text":"Rise of demand","value":"A"},{"text":"Fall of demand","value":"B"},{"text":"Extension of demand","value":"C"},{"text":"Contraction of demand","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133542,"question":"When demand curve shifts rightward (or upward), it is called","choices":[{"text":"Rise of demand","value":"A"},{"text":"Fall of demand","value":"B"},{"text":"Extension of demand","value":"C"},{"text":"Contraction of demand","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133541,"question":"Demand for necessities of life is","choices":[{"text":"Les elastic","value":"A"},{"text":"More elastic","value":"B"},{"text":"Perfectly elastic","value":"C"},{"text":"Perfectly inelastic","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133540,"question":"Demand for luxuries in","choices":[{"text":"Les elastic","value":"A"},{"text":"More elastic","value":"B"},{"text":"Perfectly elastic","value":"C"},{"text":"Perfectly inelastic","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133539,"question":"Income elasticity of demand is concerned with","choices":[{"text":"Income and consumption of wealth","value":"A"},{"text":"Income and demand for good","value":"B"},{"text":"Price and income of the consumer","value":"C"},{"text":"Price and demand for good","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133538,"question":"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","choices":[{"text":"Equal to unity","value":"A"},{"text":"Less than unity","value":"B"},{"text":"More than unity","value":"C"},{"text":"Elasticity of demand = zero","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133537,"question":"If the total expenditure of the consumer decreases due to decrease in price, then nature of elasticity of demand will be","choices":[{"text":"Equal to unity","value":"A"},{"text":"Less than unity","value":"B"},{"text":"More than unity","value":"C"},{"text":"Elasticity of demand = zero","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133536,"question":"If the total expenditure of the consumer increases due to increase in price, then nature of elasticity of demand will be","choices":[{"text":"Equal to unity","value":"A"},{"text":"Less than unity","value":"B"},{"text":"More than unity","value":"C"},{"text":"Elasticity of demand = zero","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133535,"question":"If total expenditure of the consumer increases due to decrease in price, then nature of elasticity of demand will be","choices":[{"text":"Equal to unity","value":"A"},{"text":"Less than unity","value":"B"},{"text":"More than unity","value":"C"},{"text":"Elasticity of demand = zero","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":133534,"question":"If total expenditure of the consumer decreases due to increase in price, then nature of elasticity of demand will be","choices":[{"text":"Equal to unity","value":"A"},{"text":"Less than unity","value":"B"},{"text":"More than unity","value":"C"},{"text":"Elasticity of demand = zero","value":"D"},{"value":"E"}],"correctAnswer":3}]