A good produced for sale in the market is called ______.
Commodity
Capital
Good
None of these
The Demand Theory is associated with the name of
J. M. Keynes
David Ricardo
Alfred Marshall
Samuelson
The indifference curve approach was introduced by
Prof .Samuelson
Prof : Hicks
Prof. Marshall
Prof Adam smith
Demand varies
Positively with price
Not with price
Inversly with price
Negatively sloped
The demand for a commodity is always
At its cost
At its price
At its size
At its demand
Upward movement along the supply curve shows __________.
Contraction of supply
Expansion of supply
Decrease in supply
A slight change in price causing on infinite change in demand is a situation of
Unit elastic demand
Perfectly elastic demand
More elastic demand
Perfectly inelastic demand
Which of the following are complementary goods ?
Scooter and Car
Scooter and Petrol
Scooter and Bicycle
Scooter and bus
If the proportion of total expenditure on a commodity in a budget is high, its demand is taken to be __________.
Elastic
Inelastic
Unit elastic
At very low level of prices, demand is generally
Perfectly elastic
Perfectly inelastic
