[{"id":133576,"question":"Elasticity of demand for substitute and jointly demanded goods is called","choices":[{"text":"Income elasticity","value":"A"},{"text":"Arc elasticity","value":"B"},{"text":"Cross elasticity","value":"C"},{"text":"Point elasticity","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":133575,"question":"Elasticity of demand for luxuries is","choices":[{"text":"Equal to unity","value":"A"},{"text":"More than unity","value":"B"},{"text":"Less than unity","value":"C"},{"text":"Zero","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133574,"question":"If demand curve is parallel to x-axis, then elasticity of demand is","choices":[{"text":"Infinite","value":"A"},{"text":"Zero","value":"B"},{"text":"Equal to unity","value":"C"},{"text":"More than unity","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133573,"question":"If demand curve is parallel to y-axis, then elasticity of demand is","choices":[{"text":"Equal to unity","value":"A"},{"text":"More than unity","value":"B"},{"text":"Less than unity","value":"C"},{"text":"Zero","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":133572,"question":"Slope of demand curve of exceptions of law of demand is","choices":[{"text":"Negative","value":"A"},{"text":"Positive","value":"B"},{"text":"Zero","value":"C"},{"text":"Fixed","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133571,"question":"When demand for a commodity changes due to the change in price of some other commodity, it is called","choices":[{"text":"Point elasticity","value":"A"},{"text":"Arc elasticity","value":"B"},{"text":"income elasticity","value":"C"},{"text":"cross elasticity","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":133570,"question":"Demand for good like Television and VCR is","choices":[{"text":"Less elastic","value":"A"},{"text":"More elastic","value":"B"},{"text":"Perfectly inelastic","value":"C"},{"text":"Infinitely elastic","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133569,"question":"If demand does not change, despite a fall in price, is called","choices":[{"text":"Fall of demand","value":"A"},{"text":"Rise of demand","value":"B"},{"text":"Contraction of demand","value":"C"},{"text":"Extension of demand","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133568,"question":"Under certain conditions, slope of demand curve is","choices":[{"text":"Negative","value":"A"},{"text":"Positive","value":"B"},{"text":"Zero","value":"C"},{"text":"Fixed","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133567,"question":"Relationship between price of a commodity and demand for it exists","choices":[{"text":"Positive","value":"A"},{"text":"Inverse","value":"B"},{"text":"Indirect","value":"C"},{"text":"None of these","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133566,"question":"Slope of demand curve is","choices":[{"text":"Negative","value":"A"},{"text":"Positive","value":"B"},{"text":"zero","value":"C"},{"text":"fixed","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":133565,"question":"If there is big change in Price and demand, it is called","choices":[{"text":"Arc elasticity","value":"A"},{"text":"Point elasticity","value":"B"},{"text":"Income elasticity","value":"C"},{"text":"Cross elasticity","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133564,"question":"If there is slight change in price and demand, it is called","choices":[{"text":"Arc elasticity","value":"A"},{"text":"Point elasticity","value":"B"},{"text":"Income elasticity","value":"C"},{"text":"Cross elasticity","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133563,"question":"If demand decreases by 15% due to 10% increase in Price, then elasticity of demand is","choices":[{"text":"Equal to unity","value":"A"},{"text":"More than unity","value":"B"},{"text":"Less than unity","value":"C"},{"text":"Zero","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":133562,"question":"If demand decreases by 10% due to 10% increase in Price, then elasticity of demand is","choices":[{"text":"Equal to unity","value":"A"},{"text":"More than unity","value":"B"},{"text":"Less than unity","value":"C"},{"text":"Zero","value":"D"},{"value":"E"}],"correctAnswer":1}]