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Question-1
Demand is a ______________ variable
(A)
Stock
(B)
Flow
(C)
Constant
(D)
None of these
Question-2
Supply is a ________________ variable
(A)
Stock
(B)
Flow
(C)
Constant
(D)
None of these
Question-3
Supply is a __________________
(A)
Desired quantity only
(B)
Actual quantity
(C)
Either a or b
(D)
None of these
Question-4
Elasticity of supply could be measured through _______________
(A)
Percentage method
(B)
Geomtric method
(C)
1 and 2
(D)
None of these
Question-5
The main objectives of the firm is _______________
(A)
Sales maximization
(B)
Profit maximization
(C)
Risk minimization
(D)
None of these
Question-6
Reduction in indirect taxes _______________ supply of goods and services
(A)
Reduces
(B)
Increases
(C)
Tax and supply of foods are not related
(D)
None of these
Question-7
If the entrepreneurs do not get inputs easily, the supply would be more ________________
(A)
Inelastic
(B)
Elastic
(C)
Unitary elastic
(D)
none of these
Question-8
______________ not case of extreme cases of elasticity of supply.
(A)
Infinite elasticity
(B)
Perfectly inelastic supply
(C)
Elastic supply
(D)
None of these
Question-9
Lower is the profit from the sales, _________________ would be the amount supplied by the firms.
(A)
Higher
(B)
Lower
(C)
Same quantity
(D)
None of these
Question-10
Use of out dated techniques in production _______________ supply
(A)
Reduces
(B)
Increases
(C)
Either 1 or 2
(D)
None of these
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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