| 1 |
The product which have close substitute their demand is always. |
- A. More elastic
- B. Perfectly elastic
- C. Perfectly inelastic
- D. Less elastic
|
| 2 |
In case of perfectly elastic demand curve, the demand curve will be parallel to the. |
- A. Horizontal Axis
- B. Vertical Axis
- C. None of the above
|
| 3 |
In May 2012, firm was supplying 1000 kg of sugar at market price of Rs. 60/- per kg. During June 2012, firm's supply of sugar had decreased to 900 kg at price Rs. 40/- per kg. These changes show that supply of sugar is |
- A. Perfectly elastic
- B. Perfectly inelastic
- C. Less elastic
- D. More elastic
|
| 4 |
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
|
| 5 |
The method to measure the elasticity of demand is : |
- A. Percentage method
- B. Total outlay approach
- C. Geometric approch
- D. All the three
|
| 6 |
If a change in demand is brought by a change in income, of demand will be. |
- A. Income elasticity
- B. Price elasticity
- C. Cross elasticity
- D. Arcelasticity
|
| 7 |
In case of perfectly elastic demand curve, the demand curve will be parallel to the : |
- A. Horizontal axis
- B. Vertical Axis
- C. None of the above
|
| 8 |
If elasticity of supply is one, supply curve will be |
- A. horizontal
- B. vertical
- C. passing through origin
- D. touching x-axis
|
| 9 |
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
|
| 10 |
Which of the following shifts supply curve of cars to the right |
- A. tax on new cars
- B. increase in wages of workers
- C. decrease in steel price
- D. a successful promotion campaign by sellers
|
