Economics Ics Part 1 English Medium Chapter 5 Online Test MCQs With Answers
Question # 1
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
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
If the price of a product increase from Rs. 12 per unit and as a consequence quantity demand of the product falls from 100 units to 50 units . The price elasticity of the product will be.