| 1 |
The demand of a will expand when: |
- A. Other things do not remain constant.
- B. Price of the products changes.
- C. Value of money falls.
- D. None of the three
|
| 2 |
When price elasticity of demand for normal goods in calculated, the value is always |
- A. positive
- B. negative
- C. constant
- D. greater than one
|
| 3 |
When the demand of a product rises due to factors except price it will be. |
- A. Extension of demands
- B. Rise of demand
- C. Contraction of demand
- D. Extension of demand
|
| 4 |
The demand curve is negatively sloped due to |
- A. Income effect
- B. Substitution effect
- C. Price effect
- D. All the three
|
| 5 |
The law of demand will not be apply in case of |
- A. Inferior goods
- B. Superior goods
- C. Normal goods
- D. Non of them
|
| 6 |
Wit rapid economic growth in a country the individual demand curve will: |
- A. Rise
- B. Fall
- C. Extend
- D. Contract
|
| 7 |
The law demand will not be valid in case of. |
- A. Very high price products
- B. Normal goods
- C. Price effect
- D. Income effects
|
| 8 |
Which one is the assumption of law of demand? |
- A. price of the commodity should not change
- B. quantity demand should not change
- C. income of the consumer should not change
- D. none of the above
|
| 9 |
Law of demand shows relation between |
- A. income and price of commodity
- B. price and quantity of a commodity
- C. income and quantity demanded
- D. quantity demanded and quantity supplied
|
| 10 |
To say that two goods are unrelated, their cross price elasticity of demand should be |
- A. less than 0
- B. greater than 0
- C. equal to 0
- D. 1
|
