1 |
The price of a product double due to which its quantity demand falls to one half. The elasticity of demand for product will be: |
- A. Equal to unity
- B. Lass than unity
- C. Greater than unity
- D. Equal to zero
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2 |
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
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3 |
With a fall in the price of a Giffen good or inferior good its quantity demand will. |
- A. Fall
- B. Rise
- C. Remain unchanged
- D. None of three
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4 |
During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to |
- A. rightward
- B. leftward
- C. downward
- D. no direction
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5 |
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
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6 |
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
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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
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8 |
A schedule of the amount of a good that would be offered for sale at all possible prices, at any one instant of time or during any period of time are called |
- A. Supply
- B. Demand
- C. Stock
- D. None of these
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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
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10 |
The method to measure the elasticity of demand is : |
- A. Percentage method
- B. Total outlay approach
- C. Geometric approch
- D. All the three
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