| 1 |
An increases in demand would cause supply curve to |
- A. shift to the left
- B. shift to the right
- C. change in slope of supply curve
- D. no effect on supply
|
| 2 |
If elasticity of supply is greater than one. supply curve will be |
- A. horizontal
- B. vertical
- C. passing through origin
- D. touching y-axis
|
| 3 |
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
|
| 4 |
If elasticity of supply is one, supply curve will be |
- A. horizontal
- B. vertical
- C. passing through origin
- D. touching x-axis
|
| 5 |
Which one is increasing function of price |
- A. demand
- B. utility
- C. supply
- D. consumption
|
| 6 |
Supply curve will shift when |
- A. price falls
- B. price rises
- C. demand shifts
- D. technology changes
|
| 7 |
Other things remaining the same, quantity supplied of a commodity increases with rise in price and decreases with fall in price are called |
- A. Law of Supply
- B. Law of Demand
- C. Law of equilibrium
- D. None of these
|
| 8 |
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
|
| 9 |
The method to measure the elasticity of demand by the unitary method was introduced by. |
- A. Alfred Marshall
- B. Robbins
- C. Adam Smith
- D. Malthus
|
| 10 |
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
|