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Demand and Supply Mcqs Test 01 Preparation Online

— May 19, 2018 in Economics • add comment

Test Instructions

Demand and Supply Mcqs Test 01 Preparation Online

1. Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is?
A.
B.
C.
D.

2. Normally a demand curve will have the shape?
A.
B.
C.
D.

3. The following are causes of shift in demand EXCEPT the one?
A.
B.
C.
D.

4. This is an assumption of law of demand?
A.
B.
C.
D.

5. Other things equal, if a good has more substitutes, its price elasticity of demand is?
A.
B.
C.
D.

6. If demand is unitary elastic, a 25% increases in price will result in?
A.
B.
C.
D.

7. If quantity demanded is completely unresponsive to changes in price, demand is?
A.
B.
C.
D.

8. Law of demand shows relation between?
A.
B.
C.
D.

9. If elasticity of demand is very low it shows that the commodity is?
A.
B.
C.
D.

10. When demand is perfectly inelastic, an increase in price will result in?
A.
B.
C.
D.


 

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