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Question-1
Demand curve sloping downward from left to right indicate that ___________
(A)
higher the price lower the quantity demanded
(B)
lower the price lower the quantity demanded
(C)
higher the price higher the quantity demanded
(D)
none of these
Question-2
When two goods are complementary ,the rise in the price of good would lead to _______
(A)
upward shift in the demand for other goods
(B)
rise in the price of other goods
(C)
downward shift in the demand for other commodity
(D)
none of these
Question-3
Fall in the price of commodities attract more consumers due to __________
(A)
income effect only
(B)
substitution effect only
(C)
income and substitution effects
(D)
none of these
Question-4
The market demand for goods depends on _____________
(A)
population
(B)
income distribution
(C)
government policy
(D)
all of these
Question-5
Expectations about future price fall force consumers to buy ___________
(A)
more
(B)
less
(C)
same quantity
(D)
none of these
Question-6
Increase in demand happens due to
(A)
rise in income
(B)
change in taste
(C)
prices of substitutes
(D)
all of these
Question-7
The shape of an exceptional demand curve would be ________
(A)
upwards to right
(B)
downwards to right
(C)
upwards to left
(D)
horizontal
Question-8
Lower the price ________ would be the quantity of demand
(A)
same
(B)
higher
(C)
lower
(D)
none of these
Question-9
When both the price of a substitute and price of a complement of a commodity X rise ,the demand for X would ______
(A)
rise
(B)
falls
(C)
remains same
(D)
any of the above
Question-10
Demand is the desire for goods backed by consumers:
(A)
preference
(B)
income
(C)
taste
(D)
willingness and ability to pay
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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