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Question-1
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-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
Law of supply is
(A)
Quantitative
(B)
Qualitative
(C)
Both 1 and 2
(D)
Neither of the two
Question-4
If value of Es > 1, it is called
(A)
Inelastic Supply
(B)
Elastic Supply
(C)
Perfectly elastic supply
(D)
Perfectly inelastic supply
Question-5
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-6
The supply in the long period is
(A)
Inelastic
(B)
Elastic
(C)
Perfectly Inelastic
(D)
Perfectly Elastic
Question-7
When supply curve is vertical, Es =
(A)
1
(B)
Es > 1
(C)
∞
(D)
Zero
Question-8
Supply of the rare coins is
(A)
Inelastic
(B)
Perfectly Inelastic
(C)
Elastic
(D)
Perfectly Elastic
Question-9
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-10
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
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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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