| 1 |
Supply of a commodity means |
- A. willingness to sell a certain quantity
- B. physical stocks available
- C. planned production
- D. total production in a given period
|
| 2 |
Who present the Arc Elasticity formula for the measurement of elasticity of demand. |
- A. R.G.D Allen
- B. Pareto
- C. J.R. Hicks
- D. Robbins
|
| 3 |
The composite demand for a product is generally: |
- A. Elastic
- B. Inelastic
- C. Equal to unity
- D. Equal to zero
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| 4 |
The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will. |
- A. Fall
- B. Rise
- C. Remain the same
- D. Fluctuate
|
| 5 |
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
|
| 6 |
In May 2012, firm was supplying 1000 kg of sugar at market price of Rs. 60/- per kg. During June 2012, firm's supply of sugar had decreased to 900 kg at price Rs. 40/- per kg. These changes show that supply of sugar is |
- A. Perfectly elastic
- B. Perfectly inelastic
- C. Less elastic
- D. More elastic
|
| 7 |
Elasticity of a demand for product will be greater then unity if, with a fall in its price, total expenditure of consumer. |
- A. Increase
- B. Falls
- C. Remains the same
- D. None of the three
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| 8 |
The product which have close substitute their demand is always. |
- A. More elastic
- B. Perfectly elastic
- C. Perfectly inelastic
- D. Less elastic
|
| 9 |
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
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| 10 |
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
|