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Question-1
Price elasticity of demand would be ________if the consumption can be postponed.
(A)
inelastic
(B)
elastic
(C)
Unitary elastic
(D)
None of these
Question-2
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-3
Elasticity of demand estimated based on the total expenditure of the households is known as ________
(A)
Point method
(B)
Total outlay method
(C)
Arc method
(D)
All of these
Question-4
The demand for infinite elasticity is known as ___________.
(A)
Perfectly inelastic
(B)
perfectly elastic
(C)
unitary elastic
(D)
None of these
Question-5
When people spend less income from their budget for the purchase of those goods whose elasticity would be ________.
(A)
More elastic
(B)
less elastic
(C)
Unitary elastic
(D)
None of these
Question-6
The policy of devaluation would be successful only if the demand for the countries exports are ____________
(A)
Elastic
(B)
Inelastic
(C)
unitry elastic
(D)
None of these
Question-7
Rising prices would be beneficial to the producers if the demand for Substitute is ______.
(A)
High
(B)
low
(C)
medium
(D)
None of these
Question-8
Normally, when income increases, the quantity demand also __________.
(A)
Increases
(B)
Decreases
(C)
remains same
(D)
None of these
Question-9
The extent to which demand responds to change in price is known as ________ of demand.
(A)
Demand elasticity
(B)
price elasticity
(C)
Income elasticity
(D)
None of these
Question-10
The extent to which demand for different commodities responds to price changes _________.
(A)
differs
(B)
same
(C)
Either a or b
(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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