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Question-1
Cross elasticity of demand would be __________ when the change in the price of one commodity does not affect the demand of other good.
(A)
Two
(B)
One
(C)
Zero
(D)
Infinity
Question-2
For most of the goods, th income elasticity is ____________.
(A)
Negative
(B)
Positive
(C)
Infinite
(D)
None of these
Question-3
The grater is the number of uses to which a commodity can be put into ______ will be the price elasticity.
(A)
greater
(B)
less
(C)
unitary
(D)
None of these
Question-4
If the amount of a commodity purchased remains unchanged when price of another commodity changes, the cross elasticity of demand between them is :
(A)
Negative
(B)
positive
(C)
zero
(D)
One
Question-5
The most important variable influences price elasticity of demand is the availability of ________.
(A)
Complementary goods
(B)
Substitutes
(C)
Normal goods
(D)
None of these
Question-6
Zero elasticity of demand is otherwise known as ________.
(A)
Perfectly inelastic demand
(B)
perfectly elastic demand
(C)
elastic demand
(D)
None of these
Question-7
Elasticity in a common parlance refers to _______.
(A)
Rubber
(B)
electricity
(C)
Response
(D)
Responsiveness
Question-8
In a downward sloping straight line demand curve has ________ elasticity at price axis.
(A)
infinity
(B)
Zero
(C)
one
(D)
None of these
Question-9
Lesser the value of price elasticity indicate that demand is __________.
(A)
More sensitive to change in price
(B)
Less sensitive to change in price
(C)
A and B
(D)
None of these
Question-10
In a two commodity world and the demand a unitary elastic a rise in the price of X would lead to __________.
(A)
Less Y is brought
(B)
same amount of Y is brought
(C)
More of Y is brought
(D)
Any 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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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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