| 1 |
When demand increases due to change in other factors it is known as: |
- A. Contraction in demand
- B. Expansion and contraction in demand
- C. Expansion in demand
- D. Rise in demand
|
| 2 |
If demand is not influenced by the changes in price, elasticity of demand will be |
- A. Equal to unity
- B. More than unity
- C. Less than unity
- D. Zero
|
| 3 |
Who did present formula to measure Arc elasticity of demand |
- A. Adam Smith
- B. Marshall
- C. Allen
- D. Keynes
|
| 4 |
When supply changes due to other factors besides price, it is called |
- A. Rise of supply
- B. Fall of supply
- C. Rise and fall of supply
- D. Extension and contraction of supply
|
| 5 |
Price of perishable goods is determined |
- A. In the market period
- B. In the short period
- C. In the middle period
- D. In the long period
|
| 6 |
In which direction demand and supply curves move |
- A. Same
- B. Opposite
- C. parallel
- D. Horizontal
|
| 7 |
Finance minister imposes tax on the goods having more elastic demand |
- A. At low rate
- B. At high rate
- C. At the same rate
- D. At zero rate
|
| 8 |
Cause of movement along the supply curve is |
- A. Change in price
- B. Other factors
- C. Change in tax
- D. Change in income
|
| 9 |
Usually market price is ____________ normal price |
- A. Equal to
- B. Less than
- C. More than
- D. None of these
|
| 10 |
Cause of shifting of supply curve is |
- A. Change in price
- B. Other factors
- C. Change in tax
- D. Change in income
|
