Demand and Supply Mcqs Test 04 Preparation Online

1. When supply of a commodity increases without change in price it is called?

2. Which is not a central problem of an economy?

3. Which is not an essential condition for an economic problem to arise?

4. In May 2013, firm was supplying 500kg of sugar of market price of Rs. 30/- per kg. During June 2013, firm's supply of sugar had decreased to 450kg at price Rs. 20/- per kg. These changes show that supply of sugar is?

5. If elasticity of supply is greater than one. Supply curve will be?

6. Economic problems arise because?

7. If price changes by 1% and supply changes by 2% then supply is?

8. Supply surve?

9. During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to?

10. What best explains a shift in market supply curve to the right?