| 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 total quantity of a commodity available in or near the market which can be brought for sale at a short notice |
- A. Stock
- B. Supply
- C. Demand
- D. None of these
|
| 3 |
Supply curve will shift when |
- A. price falls
- B. price rises
- C. demand shifts
- D. technology changes
|
| 4 |
The elasticity f demand in case of substitute is called. |
- A. Income elasticity of demand
- B. Priceelasticity of demand
- C. Crosselasticity of demand
- D. None of the three
|
| 5 |
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
|
| 6 |
The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will. |
- A. Fall
- B. Rise
- C. Remain the same
- D. Fluctuate
|
| 7 |
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
|
| 8 |
When the percentage change in quantity demanded is greater than the percentage change in price, elasticity of demand for the product will be. |
- A. Equal to unity
- B. Less than unity
- C. Greater than unity
- D. Equal to zero
|
| 9 |
Which one is increasing function of price |
- A. demand
- B. utility
- C. supply
- D. consumption
|
| 10 |
Long period supply curve is |
- A. relatively flatter
- B. relatively steeper
- C. more elastic
- D. a and c of above
|
