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Question-1
Measuring the elasticity between two points on a demand curve is a measurer of _______.
(A)
Pointer elastic
(B)
Arc elastic
(C)
point elastic
(D)
All of these
Question-2
When the percentage change in quantity demanded on a commodity is equal to the percentage change income, the income elasticity will be _________.
(A)
Less than one
(B)
equal to one
(C)
Greater than one
(D)
None of these
Question-3
The demand for infinite elasticity is known as ___________.
(A)
Perfectly inelastic
(B)
perfectly elastic
(C)
unitary elastic
(D)
None of these
Question-4
Elasticity of demand for different commodities would be _________.
(A)
Same
(B)
different
(C)
Either a or b
(D)
Further data is required
Question-5
With a rise price of a commodity results in a decrease in total expenditure, the elasticity would be ________.
(A)
Greater than one
(B)
Less than one
(C)
Equal to one
(D)
none of these
Question-6
A fall in the price of the commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity to _______.
(A)
Increase
(B)
Decrease
(C)
remain unchanged
(D)
None of these
Question-7
Income elasticity is measured by ___________.
(A)
Percentage change in quantity demanded plus percentage change in income
(B)
percentage change in quantity demand minus percentage change in income
(C)
percentage change in quantity demanded divided by percentage change in income
(D)
Percentage change in quantity demanded multiplied by percentage change in income
Question-8
Law of demand tells us the __________ change in demand as result of change in price.
(A)
Direction only
(B)
Magnitude only
(C)
Direction and Magnitude
(D)
Specified quantity
Question-9
When a fall in the price of a commodity results in a reduction in total expenditure, the elasticity would be ____________.
(A)
Greater than one
(B)
Less than one
(C)
Equal to one
(D)
None of these
Question-10
Demand for a commodity would be tends to be ___________ a very high and low prices.
(A)
Inelastic
(B)
elastic
(C)
Unitary elastic
(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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