ICSE/ISC Std 10 Study Materials, Online Learning, Question Papers, Classnotes, Practice Test, MCQ | Smartindia Educational Program : www.smartindia.net.in


English I
Computer Application
Physics
Chemistry
Biology
Mathematics
History
Geography
Economics(optional)
Commercial Application
Civics
English II

Back to home

Start Practice

Question-1
The act of using goods and services to satisfy human wants is called

(A) Production	(B) Consumption
(C) Mobility	(D) Distribution

Question-2
According to the law of demand, there is ______ relationship between price and quantity demand.

(A) Positive	(B) Negative
(C) Inverse	(D) Direct

Question-3
The demand for a commodity by a single consumer is known as

(A) Market demand	(B) Demand
(C) Individual demand	(D) Income

Question-4
Price elasticity of demand of a horizontal demand curve is called

(A) Perfectly elastic	(B) Perfectly inelastic
(C) Cross elastic	(D) Unit elastic

Question-5
The problem of choice arises because of ____________ interrelated facts.

(A) Two	(B) Three
(C) Four	(D) Five

Question-6
Price elasticity of demand =

(A)	(B)
(C)	(D)

Question-7
When a change in price results in an infinitely large response in quantity demanded, demand is

(A) Unit elastic	(B) Perfectly inelastic
(C) Perfectly elastic	(D) Elastic

Question-8
The cross elasticity of demand measures the responsiveness of the quantity demanded of a particular good to changes in the prices of

(A) Its substitute and its complements	(B) Its substitute but not its complements
(C) Its complements but not its substitutes	(D) Its complements but not its giffen goods

Question-9
Demand is an ________ desire.

(A) Effective	(B) Ineffective
(C) Inefficient	(D) Efficient

Question-10
_______ is a measure of the responsiveness of demand for one good to a change in the price of another good and involves demand curve shifts.

(A) Cross Price elasticity of demand	(B) Price elasticity of demand
(C) Unit elasticity of demand	(D) Price elasticity of supply

Click here to see your answersheet and detailed track records.

Std 10

ICSE/ISC

Practice in Related Chapters
Alternative Market Structure: Basic Concepts
Demand and Supply: Basic Concepts
The Productive Mechanism
State and Economic Development
Money and Banking: Basic Concept

CONTENTS

Back to home

Start Practice

Practice in Related Chapters