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Question-1
The supply in the long period is
(A)
Inelastic
(B)
Elastic
(C)
Perfectly Inelastic
(D)
Perfectly Elastic
Question-2
Change in supply due to increase in price is termed ________ supply.
(A)
Contraction of
(B)
Extension of
(C)
Increase in
(D)
Decrease in
Question-3
Supply of the rare coins is
(A)
Inelastic
(B)
Perfectly Inelastic
(C)
Elastic
(D)
Perfectly Elastic
Question-4
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-5
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-6
Law of supply is
(A)
Quantitative
(B)
Qualitative
(C)
Both 1 and 2
(D)
Neither of the two
Question-7
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-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
If value of Es > 1, it is called
(A)
Inelastic Supply
(B)
Elastic Supply
(C)
Perfectly elastic supply
(D)
Perfectly inelastic supply
Question-10
Elasticity of supply is given by the formula
(A)
(B)
(C)
(D)
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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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