| 1 |
Cause of positive slope of supply curve |
- A. Change in cost of production
- B. Fear of increase in cost of production and decrease in profit
- C. Change in technique of production
- D. Increase in per unit profit due to increase in price
|
| 2 |
Supply means |
- A. total money of a specific producer
- B. Number of buyers
- C. quantity of goods offered for sale at different prices
- D. purchasing power of quantity supplied
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| 3 |
Who did present formula to measure Arc elasticity of demand |
- A. Adam Smith
- B. Marshall
- C. Allen
- D. Keynes
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| 4 |
If demand does not change, then due to fall of supply |
- A. Equilibrium price increases
- B. Equilibrium price decreases
- C. Equilibrium quantity increases
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| 5 |
When there is a very small change in demand and price of a commodity, it is called |
- A. Point elasticity
- B. Arc elasticity
- C. Cross elasticity
- D. Income elasticity
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| 6 |
Supply of perishable goods is |
- A. More elastic
- B. less elastic
- C. Perfectly inelastic
- D. infinite elasticity of supply
|
| 7 |
Unity method to measure elasticity of supply is presented by |
- A. Adam Smith
- B. Robbins
- C. Marshall
- D. Faruson
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| 8 |
If demand rises more proportionately than that of supply, then |
- A. Equilibrium price increases
- B. Equilibrium price decreases
- C. Equilibrium price does not change
- D. Equilibrium quantity decreases
|
| 9 |
When demand and supply rise equally then equilibrium price |
- A. isles
- B. is more
- C. Remains the source
- D. Zero
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| 10 |
Elasticity of demand for durable goods is |
- A. More elastic
- B. Less elastic
- C. Infinte
- D. Zero
|
