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Question-1
_________ measures the degree of responsiveness of quantity demanded of a commodity to changes in the income of th consumers.
(A)
Price elasticity of demand
(B)
elasticity of demand
(C)
Income elasticity of demand
(D)
All of these
Question-2
Income elasticity is normally denoted by ___________.
(A)
e
y
(B)
Ye
(C)
Pe
(D)
None of these
Question-3
Though the price of food had fallen, the demand for it remains constant is an indication of ________ elasticity.
(A)
Inelastic
(B)
elastic
(C)
Unitary
(D)
None of these
Question-4
When quantity demanded of a commodity does not respond to change in price, then elasticity of demand would be ________.
(A)
One
(B)
Zero
(C)
Infinity
(D)
None of these
Question-5
Price elasticity of demand is __________ on the units of measurement.
(A)
Depended
(B)
Independent
(C)
both A and B
(D)
None of these
Question-6
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-7
Government can raise the tax revenue by imposing on those goods have _____ demand.
(A)
Elastic
(B)
Inelastic
(C)
Unitary elastic
(D)
None of these
Question-8
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-9
The notation e
p
stands for ________.
(A)
Price elasticity
(B)
Income elasticity
(C)
Cross elasticity
(D)
none of these
Question-10
A vertical demand curve has __________ elasticity.
(A)
Zero
(B)
infinity
(C)
one
(D)
None of these
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
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Law of Supply and Price Elasticity of Supply
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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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