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Question-1
When supply curve is vertical, Es =
(A)
1
(B)
Es > 1
(C)
∞
(D)
Zero
Question-2
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-3
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-4
In _______ the supply is inelastic.
(A)
Short Period
(B)
Long Period
(C)
Initial Stage
(D)
Final Stage
Question-5
Slope of supply curve is given by the formula
(A)
(B)
(C)
(D)
Question-6
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
Question-7
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-8
Change in supply due to increase in price is termed ________ supply.
(A)
Contraction of
(B)
Extension of
(C)
Increase in
(D)
Decrease in
Question-9
Seller is generally not willing to sell commodities below:
(A)
Marginal Price
(B)
Average Price
(C)
Reserve Price
(D)
Neither of the above
Question-10
If value of Es > 1, it is called
(A)
Inelastic Supply
(B)
Elastic Supply
(C)
Perfectly elastic supply
(D)
Perfectly inelastic supply
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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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