| 1 |
Market Price of Perishable |
- A. Commodities
- B. Utility
- C. Consumer
- D. None of these
|
| 2 |
If equilibrium price rises but equilibrium quantity remains unchanged, the cause is |
- A. supply and demand both increase equally
- B. supply and demand both decrease equally
- C. supply decreases and demand increases
- D. supply increases and demand decreases
|
| 3 |
If equilibrium price rises but equilibrium quantity is unchanged, the cause is |
- A. supply and demand both increase equally
- B. supply and demand decrease equally
- C. supply curve is vertical and demand increases
- D. supply increases and demand is same
|
| 4 |
Market equilibrium means a situation where |
- A. Q<sub>s</sub>= Q<sub>d</sub>
- B. Q<sub>s</sub>= Q<sub>p</sub>
- C. Q<sub>d</sub>= Q<sub>p</sub>
- D. Q<sub>q</sub>= Q<sub>p</sub>
|
| 5 |
When the supply curve of a product is parallel to the vertical axis, it would mean that; |
- A. Different quantities of a product are supplied at the same price.
- B. Different quantities of a product are supplied at different price.
- C. Same quantities of a product are supplied at different price.
- D. None of three
|
| 6 |
When the price of a product increase by 100 percent and as a consequence, its quantity supplied increase by 125 percent, Its elasticity of supply will be. |
- A. Less than unity
- B. Greater than unity
- C. Equal to unity
- D. Equal to zero
|
| 7 |
One of the following is not an assumption of law of supply. |
- A. Political system should not changed
- B. Cost of production should not changed
- C. Production technique should not changed
- D. Cost of raw material should not changed
|
| 8 |
Which one will be termed as supply of a product. |
- A. One tone potato in cold storage
- B. One ton rice offered for sale in market
- C. One ton rice brought for sale in market at a certain price.
- D. None of the three
|
| 9 |
A producers has one thousand tons of rice to be offered for sale at a certain price in future, it will be called. |
- A. Supply of output
- B. Production
- C. Buffer stock
- D. Stock
|
| 10 |
When there is big change in quantity supplied resulting from a minor change inits price,its elasticity of supply will be. |
- A. Equal to unity
- B. Less than unity
- C. Equal to zero
- D. Greater than unity
|
