Demand and Supply Mcqs Test 01 Preparation Online

Test Instructions

Demand and Supply Mcqs Test 01 Preparation Online

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

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

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

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

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

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

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

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

9. Normally a demand curve will have the shape?
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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