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Economics
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Question-1
When marginal utility is falling ,a consumer would purchase larger quantity when prices are ___________
(A)
rising
(B)
falling
(C)
remains constant
(D)
none of these
Question-2
Expectations about quality ? price relationship moves _________ direction.
(A)
same
(B)
opposite
(C)
same or opposite
(D)
none of these
Question-3
When the real income of the consumer falls, he is likely to purchase ___________
(A)
more goods
(B)
less goods
(C)
same goods
(D)
none of these
Question-4
The sum of income effect and substitution effect is __________
(A)
summary effect
(B)
price effect
(C)
pricier effect
(D)
none of these
Question-5
A rise in the price of commodities results in ___________
(A)
increase in income
(B)
increase in price
(C)
purchasing power of money goes up
(D)
purchasing power of money falls
Question-6
Change in demand due to change in real income is known as _________
(A)
price effect
(B)
substitution effect
(C)
income effect
(D)
none of these
Question-7
There is ________ relationship between income and quantity demanded
(A)
positive
(B)
inverse
(C)
curvilinear
(D)
none of these
Question-8
Related goods can be classified into ___________
(A)
substitutes
(B)
complementary goods
(C)
substitutes and complementary goods
(D)
none of these
Question-9
___________ explains the functional relationship between price of one commodity and the demand for a related commodity .
(A)
substitute demand
(B)
cross demand
(C)
complementary demand
(D)
none of these
Question-10
When the price of good goes up, the demand for its substitute would _________
(A)
fall
(B)
rise
(C)
remains same
(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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