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Related Questions |
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If the price elasticity of demand is zero, the shape of the curve will be:
a)Horizontal
b)Vertical
c)Sloping downwards
d)None of these
d)
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Which of the following elasticity of demand measures a movement along the demand curve rather than a shift in the curve?
a)Income elasticity of demand
b)Price elasticity of demand
c)Substitution elasticity of demand
d)None of these
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In which of the following cases the demand for goods tends to be less elastic?
a)Good is necessary
b)Time period is shorter
c)Number of close substitutes is less
d)All of the above
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Normal goods have______.
a)Zero income elasticity
b)Negative income elasticity
c)Positive income elasticity
d)Infinite income elasticity
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Bricks for houses is an example of which kind of demand?
a)Composite
b)Competitive
c)Joint
d)Derived
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Contraction of demand results due to_______
a)Increase in price of goods b)Decrease in no. of products c)Increase in Options available d)Salary increase
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When price falls by 5% and demand increase by 6%, then elasticity of demand is________
a)Elastic
b)Inelastic
c)Unitary elastic
d)Zero
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Certain goods for which Quantity demanded decreases when Income Increases are called______.
a)Superior goods
b)Inferior goods
c)Prestige goods
d)Conspicuous
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In expansion and contraction of demand______. a)Demand curve remains unchanged b)Demand curve changes c)Slope of the demand curve changes d)Both (a) and (c)above
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The commoditywhose demand is associated with the name of Sir Robert Giffen?
a)Necessary good
b)Luxury good
c)Inferior good
d)Ordinary good
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In case of luxury goods, the income elasticity of demand will be_______
a)Zero
b)Negative but greater than one
c)Positive but greater than one
d)Positive but less than one
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If income of a person increases by 10% and his demand for goods increases by 30%, income elasticity will be_______
a)Equal to one
b)Less than one
c)More than one
d)None of these
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Demand for electricity power is elastic because_______ a)It is available at a very high price b)It is essential for life c)It has many uses d)It has many substitutes
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Cross elasticity of perfect substitutes is:
a)Zero
b)Negative
c)One
d)Infinity
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If demand is parallel to x axis, what will be the nature of the elasticity in that case:-
a) Perfectly Elastic b) Perfectly Inelastic c) Slightly Elastic d) Slightly Inelastic
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In case of substitute goods, cross elasticity is_______:
a)Negative
b)Zero
c)Positive
d)None of these
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Elasticity between two points: a)Point elasticity b)Arc elasticity c)cross elasticity d)None
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The demand of which type of goods do not decrease with increase in its price:
a)Comforts
b)Luxury
c)Necessities
d)Capital goods
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Expansion and contraction of demand curve occurs due to:
a)Change in the price of commodity
b)Change in the price of substitute
c)Change in income
d)None
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Law of demand is a_________ a)Quantitative statement b)Qualitative statement c)Both (a) and (b) d)Hypothetical
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