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Question-1
When supply curve is horizontal Es =
(A)
Zero
(B)
1
(C)
∞
(D)
Es > 1
Question-2
If price of substitute goods fall, then it will lead to
(A)
Decrease in supply
(B)
Increase in supply
(C)
No change in supply
(D)
Constant
Question-3
Supply of the rare coins is
(A)
Inelastic
(B)
Perfectly Inelastic
(C)
Elastic
(D)
Perfectly Elastic
Question-4
Elasticity of supply is given by the formula
(A)
(B)
(C)
(D)
Question-5
Seller is generally not willing to sell commodities below:
(A)
Marginal Price
(B)
Average Price
(C)
Reserve Price
(D)
Neither of the above
Question-6
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-7
When price of substitutes and costs of production rises, it leads to :
(A)
Contraction in supply
(B)
Decrease in supply
(C)
Expansion in supply
(D)
Increase in supply
Question-8
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
Question-9
In case _______ the supply is inelastic.
(A)
Of decreasing marginal cost
(B)
Of increasing marginal cost
(C)
Of marginal cost remaining constant
(D)
The law of increasing return is in operation
Question-10
Supply curve presents
(A)
Price of the commodity
(B)
Supply of the commodity
(C)
Relationship between price and supply of the commodity
(D)
Demand of the commodity
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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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