The indifference curve approach was introduced by
Prof .Samuelson
Prof : Hicks
Prof. Marshall
Prof Adam smith
The supply of a commodity values ___________.
Directly with its price
Inversly with its price
Disproportionatily with its price
None of these
A small change in price leading to a proportionately larger change in supply is a situation of ___________.
Perfectly elastic supply
Less elastic supply
More elastic supply
In a straight line demand curve sloping downward from left to right, what will be the elasticity of demand at the mid point of the curve?
Infinity
Unity
Zero
One
The Demand Theory is associated with the name of
J. M. Keynes
David Ricardo
Alfred Marshall
Samuelson
Elasticity of demand will be less in the case of households having
High income
Low income
Very low income
Very high income
Price mechanism refers to interaction of
Supply and demand
Supply and price
Price and demand
Profit and demand
Supply of a commodity is always ____________.
At its cost
At its price
At its size
Which of the following pairs of commodities is an example of substitutes?
Car and petrol
Paper and pen
Coffee and tea
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
