Demand and Supply Mcqs Test 04 Preparation Online Shani Malik — May 19, 2018 in Economics • add comment Demand and Supply Mcqs Test 04 Preparation Online 1. 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?A. Perfectly elastic B. Less elastic C. Perfectly inelastic D. More elastic Loading... 2. Which is not a central problem of an economy?A. What to produce B. How to maximize private profit C. How to produce D. For whom to produce Loading... 3. During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to?A. Rise in supplyB. Downward C. Leftward D. Rightward Loading... 4. Supply surve?A. Is same in long and short run B. Is vertical in long run C. Is flatter in long run D. Is horizontal in both short and long run Loading... 5. Economic problems arise because?A. All of the aboveB. Resources are scarce C. Scarce resources have alternative uses D. Wants are unlimited Loading... 6. What best explains a shift in market supply curve to the right?A. The government introduces a tax on the good B. The price of raw materials increasesC. An advertising campaign is successful in promoting the good D. A new technique makes it cheaper to produce the good Loading... 7. When supply of a commodity increases without change in price it is called?A. Fall in supply B. Contraction in supply C. Rise in supplyD. Expansion in supply Loading... 8. If price changes by 1% and supply changes by 2% then supply is?A. Inelastic B. StaticC. Indeterminate D. Elastic Loading... 9. Which is not an essential condition for an economic problem to arise?A. Alternative uses of scarce resourcesB. Use of money C. Scarcity of resources D. Unlimited wants Loading... 10. If elasticity of supply is greater than one. Supply curve will be?A. Horizontal B. Vertical C. Touching y-axisD. Passing through origin Loading... Loading... Related NTS Results Post:Demand and Supply Mcqs Test 03 Preparation OnlineDemand and Supply Mcqs Test 05 Preparation OnlineDemand and Supply Mcqs Test 02 Preparation OnlineDemand and Supply Mcqs Test 06 Preparation OnlineDemand and Supply Mcqs Test 07 Preparation OnlineDemand and Supply Mcqs Test 01 Preparation OnlineDemand and Supply Mcqs Test 08 Preparation OnlineIslamabad Electric Supply Company IESCO NTS Jobs…
