Demand and Supply Mcqs Test 02 Preparation Online

Test Instructions

Demand and Supply Mcqs Test 02 Preparation Online

1. The elasticity of demand of durable goods is?
A.
B.
C.
D.

2. Which one is the assumption of law of demand?
A.
B.
C.
D.

3. When cross elasticity of demand is a large positive number, one can conclude that?
A.
B.
C.
D.

4. Mr. Raees Ahmad bought 50 litres of petrol when his monthly income was Rs. 25,000. Now his monthly income has risen to Rs. 50,000 and he purchases 100 litre of petrol. His income elasticity of demand for petrol is?
A.
B.
C.
D.

5. If demand is inelastic, a change in the price?
A.
B.
C.
D.

6. Irrespective of price, Sofia always spends Rs. 100 a week on ice cream, we conclude that?
A.
B.
C.
D.

7. Which of the following is a demand function?
A.
B.
C.
D.

8. The elasticity of demand of durable goods is?
A.
B.
C.
D.

9. Zubair has a special taste for college canteen is hotdogs. The owner of the canteen doubles the prices of hotdogs. Zubair did not respond to the increase in prices and kept on demanding the same quantity of hotdogs. His demand for hotdogs is?
A.
B.
C.
D.

10. Price and demand are positively correlated in case of?
A.
B.
C.
D.


 

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