The supply of a commodity values ___________.
Directly with its price
Inversly with its price
Disproportionatily with its price
None of these
The Demand Theory is associated with the name of
J. M. Keynes
David Ricardo
Alfred Marshall
Samuelson
The demand for a commodity is always
At its cost
At its price
At its size
At its demand
Elasticity of demand will be less in the case of households having
High income
Low income
Very low income
Very high income
A fall in supply brought about by a fall in price is known as ______.
Contraction of supply
Expansion of supply
Increase in supply
If a demand curve is a straight line parallel to y-axis it shows
More elastic demand
Less elastic demand
Perfectly inelastic demand
Perfectly elastic demand
Supply curve is ___________.
Negatively sloped
Having zero slope
Positively sloped
Which of the following are complementary goods ?
Scooter and Car
Scooter and Petrol
Scooter and Bicycle
Scooter and bus
In a market economy a central problems are settled by
Private sector
Central planning authority
Price mechanism
Demand theory
Price mechanism refers to interaction of
Supply and demand
Supply and price
Price and demand
Profit and demand
