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Question-1
Law of supply is
(A)
Quantitative
(B)
Qualitative
(C)
Both 1 and 2
(D)
Neither of the two
Question-2
The value of elasticity of supply ranges from
(A)
One to infinity
(B)
Zero to infinity
(C)
Minus infinity to plus infinity
(D)
Zero to minus infinity
Question-3
When supply curve is vertical, Es =
(A)
1
(B)
Es > 1
(C)
∞
(D)
Zero
Question-4
Supply means
(A)
Quantity of goods produced
(B)
Stocks of goods produced
(C)
Quantity of goods available for sale
(D)
Total of produced and imported goods
Question-5
In _______ the supply is inelastic.
(A)
Short Period
(B)
Long Period
(C)
Initial Stage
(D)
Final Stage
Question-6
Supply of the rare coins is
(A)
Inelastic
(B)
Perfectly Inelastic
(C)
Elastic
(D)
Perfectly Elastic
Question-7
Seller is generally not willing to sell commodities below:
(A)
Marginal Price
(B)
Average Price
(C)
Reserve Price
(D)
Neither of the above
Question-8
If 10% increase in the price of scooters increases supply of scooter by 20% the supply of scooters will be
(A)
Perfectly Elastic
(B)
Elastic (more than unit)
(C)
Inelastic
(D)
Perfectly Inelastic
Question-9
Slope of supply curve is given by the formula
(A)
(B)
(C)
(D)
Question-10
Increase in supply due to causes other than change in price is termed as ________ supply.
(A)
Decrease in
(B)
Increase in
(C)
Extension of
(D)
Contraction of
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Plus 2 Humanities
Kerala (English Medium)
Practice in Related Chapters
Forms of Market
National Income
Indian Economy 1950 - 1990
National Income Accounting
The Theory of Consumer Behaviour (Micro)
Elasticity of Demand (Micro)
Theory of Demand (Micro)
Market Equilibrium Under Perfect Competition (Micro)
Production Function-Returns to a factor(Micro)
Supply and Elasticity of Supply
Cost Revenue and Producers Equilibrium
Forms of Market
National Income Accounting and Circular flow of Income (Macro)
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