[{"id":102863,"question":"Market price will be determined where","choices":[{"text":"Supply is more than demand","value":"A"},{"text":"Demand is more than supply","value":"B"},{"text":"Demand and supply are equal","value":"C"},{"text":"Demand is less elastic and supply is more elastic","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":102862,"question":"Reserve price of a commodity is that price","choices":[{"text":"Which is more than the cost of production of the seller","value":"A"},{"text":"At which the seller sells his commodity tn the market","value":"B"},{"text":"Which is equal to the cost of production of the seller","value":"C"},{"text":"Below which the seller is not ready to sell his commodity","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":102861,"question":"Price is determined under perfect competition","choices":[{"text":"By sellers","value":"A"},{"text":"By buyers","value":"B"},{"text":"By government","value":"C"},{"text":"By forces of demand and supply","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":102860,"question":"Market equilibrium is attained when there exists in the market","choices":[{"text":"Perfect competition","value":"A"},{"text":"Imperfect competition","value":"B"},{"text":"Monopoly","value":"C"},{"text":"Large quantity of commodity comes in the market","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":102859,"question":"Cause of positive slope of supply curve","choices":[{"text":"Change in cost of production","value":"A"},{"text":"Fear of increase in cost of production and decrease in profit","value":"B"},{"text":"Change in technique of production","value":"C"},{"text":"Increase in per unit profit due to increase in price","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":102858,"question":"Supply curve moves from left to right upward, this tendency is called","choices":[{"text":"Negative","value":"A"},{"text":"Positive","value":"B"},{"text":"Horizontal","value":"C"},{"text":"Vertical","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":102857,"question":"Supply of goods depends upon","choices":[{"text":"Price","value":"A"},{"text":"Income","value":"B"},{"text":"Price and income","value":"C"},{"text":"Utility","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":102856,"question":"Stock means the quantity of a commodity","choices":[{"text":"Which is offered for sale in the market","value":"A"},{"text":"Which is sold in the market","value":"B"},{"text":"Total production is called stock","value":"C"},{"text":"Which the seller keeps in his possession without selling","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":102855,"question":"Quantity of a commodity offered for sale in a market at a certain price during a given period of time, is called","choices":[{"text":"Stock","value":"A"},{"text":"Demand","value":"B"},{"text":"Supply","value":"C"},{"text":"Quantity demanded","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":102854,"question":"The goods on which law of demand does not apply, are called","choices":[{"text":"Services","value":"A"},{"text":"Goods and services","value":"B"},{"text":"Giffin goods","value":"C"},{"text":"Capital goods","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":102853,"question":"According to law of demand, curve moves from left to right downward. This type of tendency is called","choices":[{"text":"Positive tendency","value":"A"},{"text":"Negative tendency","value":"B"},{"text":"Extension and contraction of demand","value":"C"},{"text":"Rise and fall of demand","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":102852,"question":"According to law of demand, when price of a commodity decreases, then demand curve","choices":[{"text":"Moves from left to right upward","value":"A"},{"text":"Moves from left to right downward","value":"B"},{"text":"Moves vertically","value":"C"},{"text":"Moves horizontally","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":102851,"question":"Relationship between price and quantity demanded is called","choices":[{"text":"Demand schedule","value":"A"},{"text":"Demand curve","value":"B"},{"text":"Law of demand","value":"C"},{"text":"Assumptions of law of demand","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":102850,"question":"What is meant by demand for a commodity in economics","choices":[{"text":"To desire for a commodity","value":"A"},{"text":"To have power to buy","value":"B"},{"text":"To have power to buy a commodity with desire","value":"C"},{"text":"Quantity of a commodity","value":"D"},{"value":"E"}],"correctAnswer":3}]