| 1 |
If demand does not change, despite a fall in price, is called |
- A. Fall of demand
- B. Rise of demand
- C. Contraction of demand
- D. Extension of demand
|
| 2 |
A big change in demand and price is called: |
- A. PointElasticity of demand
- B. ArcElasticity of demand
- C. CrossElasticity of demand
- D. PriceElasticity of demand
|
| 3 |
Degree of change in quantity supplied due to change in price is called |
- A. Extension of supply
- B. Rise of supply
- C. Elasticity of supply
- D. None of three
|
| 4 |
Shape of market supply curve is |
- A. Horizontal or parallel to ox curve
- B. Vertical or parallel to oy curve
- C. Positively sloping
- D. Negatively sloping
|
| 5 |
Price determined with the equilibrium of demand and supply on some day |
- A. Short period price
- B. Long period price
- C. Market price
- D. Normal price
|
| 6 |
Slope of demand curve is |
- A. Negative
- B. Positive
- C. zero
- D. fixed
|
| 7 |
Reserve price of a commodity is that price |
- A. Which is more than the cost of production of the seller
- B. At which the seller sells his commodity tn the market
- C. Which is equal to the cost of production of the seller
- D. Below which the seller is not ready to sell his commodity
|
| 8 |
If same amount of good is supplied at higher price, it is called |
- A. Expansion of supply
- B. Contraction of supply
- C. Fall in supply
- D. Rise in supply
|
| 9 |
Supply of perishable goods is |
- A. More elastic
- B. less elastic
- C. Perfectly inelastic
- D. infinite elasticity of supply
|
| 10 |
If demand and supply both fall in the same proportion |
- A. Equilibrium price increases
- B. Equilibrium price decreases
- C. Equilibrium price does not change
- D. Equilibrium quantity increases
|
