| 1 |
The method to measure the elasticity of demand is : |
- A. Percentage method
- B. Total outlay approach
- C. Geometric approch
- D. All the three
|
| 2 |
The demand for a product is inelastic. In order to increase government revenue, the finance minister will : |
- A. Lower down the tax rate
- B. Increase the tax rate
- C. Not change the tax rate
- D. Double the tax rate
|
| 3 |
The product which have close substitute their demand is always. |
- A. More elastic
- B. Perfectly elastic
- C. Perfectly inelastic
- D. Less elastic
|
| 4 |
Supply curve |
- A. is vertical in long run
- B. is flatter in long run
- C. is same in long and short run
- D. is horizontal in both short and long run
|
| 5 |
Who present the Arc Elasticity formula for the measurement of elasticity of demand. |
- A. R.G.D Allen
- B. Pareto
- C. J.R. Hicks
- D. Robbins
|
| 6 |
If the price of a product increase from Rs. 12 per unit and as a consequence quantity demand of the product falls from 100 units to 50 units . The price elasticity of the product will be. |
- A. 2.5
- B. 0.5
- C. 1.5
- D. 3.5
|
| 7 |
Elasticity of demand in case of minor change in price and quantity demand will be . |
- A. Income elasticity of demand
- B. Cross elasticity of demand
- C. Point elasticity of demand
- D. Arc elasticity of demand
|
| 8 |
When a supply of a commodity increases without change in price it is called |
- A. fall in supply
- B. expansion in supply
- C. contraction in supply in
- D. rise in supply
|
| 9 |
The quantities of a commodity offered for sale at different prices during a given period of time are called |
- A. Supply
- B. Demand
- C. Stock
- D. None of these
|
| 10 |
Which one of the following pairs represent complementary demand for a product. |
- A. Tea & coffe
- B. Butter & Margarine
- C. Shirt & shoes
- D. Shirt & trouser
|
