Demand and Supply Mcqs Test 06 Preparation Online

1. The Law of Demand, assuming other things to remain constant, establishes the relationship between?

2. Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price?

3. Which of the following pairs of commodities is an example of substitutes?

4. In the case of an inferior good, the income elasticity of demand is?

5. In respect of which of the following category of goods is consumer's surplus highest?

6. In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be?

7. Identify the factor which generally keeps the price-elasticity of demand for a commodity now?

8. All but one of the following are assumed to remain the same while drawing an individual's demand curve for a commodity. Which one is it?

9. Total utility is maximum when?

10. Contraction of demand is the result of?