If the price of a good changes but everything else influencing suppliers planned sales remains constant , there is a
New supply curve
Movement along the old demand curve
Movement along the supply curve
Rotation of the old supply curve around the old price
In the above figure which movement reflects a decrease in demand?
From a to e
From a to b
From a to d
A complement is a good
Of lower quality than another
Used in conjunction with another good
Used instead of another good
Of higher quality than another
The father of modern economics is :
Prof. Ragnar
Adam Smith
Kenneth Boulding
Prof.Walker
How is law of demand expressed functionally?
Dx = f (P2) , ceteris paribus
Dx = f (Px) , ceteris paribus
Dx = f (y) , ceteris paribus
Dx = f (T) , ceteris paribus
As consumer has more and more units of a goods, its marginal utility to him
Rises
Is zero
Declines
Is maximum
Change in the demand of apples due to increase in the price is ________ of demand.
Contraction
Extension
Increase
Decrease
Increase in the price of ink will ________ the demand of pen.
Keep constant
No effect
Increase in the demand for wages due to industrial development is an example of
Income demand
Cross demand
Derived demand
Competitive demand
In the above figure, if D2 is the original demand curve for a normal good which price and quantity will result if incomes fall?
Point a , with price P2 and quantity Q2
Point b, with price P1 and quantity Q1
Point C, with price P3 and quantity Q3
Point d, with price P1 and quantity Q3
