The total demand for the product in the entire economy as a whole is called
Market Demand
Individual Demand
Macro Demand
Micro Demand
When price increases,demand increases and when price decreases demand increases is called
Direct Relation
Inverse Relation
Equal Relation
No Relation
If income increases
supply increases
supply decreases
demand increases
demand decreases
The quantity demanded depends up on the
Supply
Market
Price
Consumer
Market demand
Individual demand
Match the following
a) Non-price determinants of demand - i) Price is decided by the state
b) Capitalistic Economic System - ii) Inverse relationship between quantity demand
c) Law of demand - iii) Income Level
d) Socialist Economic System - iv) Free Market Economy
(a-i, b-ii, c-iii, d-iv)
(a-iii, b-iv, c-ii, d-i)
(a-ii, b-i, c-iv, d-iii)
(a-iv, b-iii, c-i,d-ii)
Which one of the following schedule gives us the information about how much of the commodity the consumer would buy at the given price?
Demand Schedule
Supply Schedule
Consumption Schedule
Production Schedule
Which one of the following is the medium of exchange?
Goods
Banks
Capital
Money
Which one of the following is a characteristics of market?
Market is not restricted to any geographical location.
Market should have limited area.
A wider market cannot bring changes in the supply.
Market should be restricted to one or two locations.
The non-price determinants of demand includes tastes and preferences,income level and
Demand
Prices of the other products
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