Demand and Supply Mcqs Test 01 Preparation Online

Test Instructions

Demand and Supply Mcqs Test 01 Preparation Online

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

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

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

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

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

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

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

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

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

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


 

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