Economics Demand and Supply Mcqs Test 03 Preparation Online Demand and Supply Mcqs Test 03 Preparation Online 1. If price and total revenue move in the same direction, then demand is?A. Unrelated B. Inelastic C. Perfectly elasticD. Elastic Loading... 2. When price elasticity of demand for normal goods is calculated, the value is always?A. Negative B. Constant C. Positive D. Greater than one Loading... 3. An increase in demand would cause supply curve to?A. No effect on supplyB. Shift to the right C. Shift to the left D. Change in slope of supply curve Loading... 4. Income elasticity of demand for normal good is always?A. Negative B. PositiveC. More than one D. 1 Loading... 5. Demand is a function of?A. Quantity B. Price C. Supply D. None of these Loading... 6. Which one is the assumption of law of demand?A. Quantity demanded should not change B. Price of the commodity should not change C. None of theseD. Income of the consumer should not change Loading... 7. Which one is increasing function of price?A. ConsumptionB. Utility C. Supply D. Demand Loading... 8. Supply curve will shift when?A. Technology changeB. Price falls C. Demand shifts D. Price rises Loading... 9. What does price elasticity of demand measure?A. Change in price caused by changes in demand B. The rate of change of sales C. The responsiveness of demand to price changes D. The value of sales of a given price Loading... 10. It describes the law of supply?A. All the threeB. Supply curve C. Supply schedule D. Supply equation Loading... Loading... Related PostsDemand and Supply Mcqs Test 02 Preparation OnlineDemand and Supply Mcqs Test 04 Preparation OnlineDemand and Supply Mcqs Test 05 Preparation OnlineDemand and Supply Mcqs Test 06 Preparation OnlineDemand and Supply Mcqs Test 01 Preparation OnlineDemand and Supply Mcqs Test 08 Preparation Online Continue Reading Previous Demand and Supply Mcqs Test 02 Preparation OnlineNext Demand and Supply Mcqs Test 04 Preparation Online Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ