A rightward shift in demand curve indicates ___________.
Decrease in demand
Increase in demand
Contraction in demand
None of these
Supply of a commodity is always ____________.
At its cost
At its price
At its size
Expansion and contraction of supply is due to changes in ________.
Price of the commodity
Income of the firm
Technology
Law of demand implies
Direct relationship between demand and price
Inverse relationship between demand and price
Direct relationship between demand and supply
Indirect relationship demand and price
The degree of responsiveness of demand for a commodity to a change in its price is called
Elasticity of demand
Expansion of demand
Upward movement along the supply curve shows __________.
Contraction of supply
Expansion of supply
Decrease in supply
If a demand is perfectly elastic,the demand curve will be a straight line _______.
Parallel to x-axis
Parallel to y-axis
Passing through the origin
Elasticity of supply ranges from ___________.
Zero to infinity
Zero to one
One to infinity
The indifference curve approach was introduced by
Prof .Samuelson
Prof : Hicks
Prof. Marshall
Prof Adam smith
Which of the following are complementary goods ?
Scooter and Car
Scooter and Petrol
Scooter and Bicycle
Scooter and bus
