A supply function expresses the relationship between - (1) price and output (2) price and selling cost (3) price and demand (4) price and consumption

A supply function expresses the relationship between - (1) price and output (2) price and selling cost (3) price and demand (4) price and consumption
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(1) price and output Explanation: The supply function expresses the relationship between the Lotal quantily supplied and the price received by all suppliers per unit of time, holding other factors constant. It illustrates the relation between price and supply.
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A supply function expresses the relationship between (1) price and output (2) price and selling cost (3) price and demand (4) price and consumption

Description : A supply function expresses the relationship between (1) price and output (2) price and selling cost (3) price and demand (4) price and consumption

Last Answer : price and output

Consumption function expresses the relationship between consumption and - (1) savings (2) income (3) investment (4) price

Description : Consumption function expresses the relationship between consumption and - (1) savings (2) income (3) investment (4) price

Last Answer : (2) income Explanation: The consumption function is a mathematical formula laid out by famed economist John Maynard Keynes. The formula was designed to show the relationship between real disposable ... being what Keynes considered the most important determinant of short-term demand in an economy.

Consumption function expresses the relationship between consumption and (1) savings (2) income (3) investment (4) price

Description : Consumption function expresses the relationship between consumption and (1) savings (2) income (3) investment (4) price

Last Answer : income

Cross demand expresses the functional relationship between - (1) demand and prices of related commodities (2) demand and income (3) demand and prices (4) demand and supply (4)

Description : Cross demand expresses the functional relationship between - (1) demand and prices of related commodities (2) demand and income (3) demand and prices (4) demand and supply (4)

Last Answer : (1) demand and prices of related commodities Explanation: Other things being constant, cross demand expresses the relation between demand for good A' due to change in the price of its related good 'B' ... that at different prices of good B' what different quantities of good A' will be demanded.

Cross demand expresses the functional relationship between (1) demand and prices of related commodities. (2) demand and income. (3) demand and prices. (4) demand and supply,

Description : Cross demand expresses the functional relationship between (1) demand and prices of related commodities. (2) demand and income. (3) demand and prices. (4) demand and supply,

Last Answer : demand and prices of related commodities.

The Law of Demand expresses - (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) (4) None of the above

Description : The Law of Demand expresses - (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) (4) None of the above

Last Answer : (1) effect of change in price of a commodity on its demand Explanation: The law of demand states the inverse relation that comes to exist of between price in one hand and quantity demanded on ... quantity demanded. In other words, the higher the price of a product, the lower the quantity demanded.

The Law of Demand expresses (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) None of the above

Description : The Law of Demand expresses (1) effect of change in price of a commodity on its demand (2) effect of change in demand of a commodity on its price (3) effect of change in demand of a commodity over the supply of its substitute (4) None of the above

Last Answer : effect of change in price of a commodity on its demand

Production function expresses - (1) technological relationship between physical inputs and output (2) financial relationship between physical inputs and output (3) relationship between finance and technology (4) relationship between factors of production

Description : Production function expresses - (1) technological relationship between physical inputs and output (2) financial relationship between physical inputs and output (3) relationship between finance and technology (4) relationship between factors of production

Last Answer : (1) technological relationship between physical inputs and output Explanation: Production involves transformation of inputs into outputs. The output is a function of input. The functional relationship between ... be produced from any given quantities of various inputs during a given period of time.

Production function expresses (1) technological relationship between physical inputs and output (2) financial relationship between physical inputs and output (3) relationship between finance and technology (4) relationship between factors of production

Description : Production function expresses (1) technological relationship between physical inputs and output (2) financial relationship between physical inputs and output (3) relationship between finance and technology (4) relationship between factors of production

Last Answer : technological relationship between physical inputs and output

The functional relationship between income and consumption expenditure is explained by - (1) Consumer' Surplus (2) Law of Demand (3) Law of Supply (4) Keynes's psychological law of consumption

Description : The functional relationship between income and consumption expenditure is explained by - (1) Consumer' Surplus (2) Law of Demand (3) Law of Supply (4) Keynes's psychological law of consumption

Last Answer : (4) Keynes's psychological law of consumption Explanation: Keynes defined Psychological Law of Consumption in terms of, "The fundamental psychological law, upon which we are entitled to depend with great ... consumption as their income increases but not by as much as the increase in the income."

The functional relationship between income and consumption expenditure is explained by (1) Consumer’ Surplus (2) Law of Demand (3) Law of Supply (4) Keynes’s psychological law of consumption

Description : The functional relationship between income and consumption expenditure is explained by (1) Consumer’ Surplus (2) Law of Demand (3) Law of Supply (4) Keynes’s psychological law of consumption

Last Answer :  Keynes’s psychological law of consumption

When tariff is imposed on imports which of the following will increase? (a) Domestic output. (b) Domestic demand. © Domestic price. (d) Domestic consumption.

Description : When tariff is imposed on imports which of the following will increase? (a) Domestic output. (b) Domestic demand. © Domestic price. (d) Domestic consumption.

Last Answer : © Domestic price.

Consumption function expresses the relationship between consumption and?

Description : Consumption function expresses the relationship between consumption and?

Last Answer : Income

Effective demand depends on - (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Description : Effective demand depends on - (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Last Answer : (4) supply price Explanation: Effective Demand is "the demand in which the consumer are able and willing to purchase at conceivable price" simply saying if the product price is low more ... Function or Price and Aggregate Supply Function or Price to explain the determination of effective demand.

Effective demand depends on (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Description : Effective demand depends on (1) capital-output ratio (2) output-capital ratio (3) total expenditure (4) supply price

Last Answer : supply price

Consumptions function refers to - (1) relationship between income and employment (2) relationship between savings and investment (3) relationship between input and output (4) relationship between income and consumption

Description : Consumptions function refers to - (1) relationship between income and employment (2) relationship between savings and investment (3) relationship between input and output (4) relationship between income and consumption

Last Answer : (4) relationship between income and consumption Explanation: The Consumption function is a single mathematical function used to express consumer spending. It was developed by John Maynard Keynes and ... by current income and induced consumption that is influenced by the economy's income level.

Production function explains the relationship between - (1) initial inputs and ultimate output (2) inputs and ultimate consumption (3) output and consumption (4) output and exports

Description : Production function explains the relationship between - (1) initial inputs and ultimate output (2) inputs and ultimate consumption (3) output and consumption (4) output and exports

Last Answer : (1) initial inputs and ultimate output Explanation: Production function explains the relationship between factor input and output under given technology. It explains as to for increasing the ... . Production function explains the physical relationship between input and output under given technology.

Consumptions function refers to (1) relationship between income and employment (2) relationship between savings and investment (3) relationship between input and output (4) relationship between income and consumption

Description :  Consumptions function refers to (1) relationship between income and employment (2) relationship between savings and investment (3) relationship between input and output (4) relationship between income and consumption

Last Answer : relationship between income and consumption

Production function explains the relationship between (1) initial inputs and ultimate output (2) inputs and ultimate consumption (3) output and consumption (4) output and exports

Description : Production function explains the relationship between (1) initial inputs and ultimate output (2) inputs and ultimate consumption (3) output and consumption (4) output and exports

Last Answer : initial inputs and ultimate output

Gresham's law is related to - (1) Consumption and demand (2) Supply and demand (3) Circulation of money (4) Deficit financing

Description : Gresham's law is related to - (1) Consumption and demand (2) Supply and demand (3) Circulation of money (4) Deficit financing

Last Answer : (3) Circulation of money Explanation: Gresham's law is an observation in economics that "bad money drives out good." More exactly, if coins containing metal of different value have the same value as ... 1558 prompted the economist H.D. Macleod to suggest the term Gresham's law in the 19th century.

'Gresham's Law' in Economics relates to (1) supply and demand (2) circulation of currency (3) consumption of supply (4) distribution of goods and services

Description : 'Gresham's Law' in Economics relates to (1) supply and demand (2) circulation of currency (3) consumption of supply (4) distribution of goods and services

Last Answer : (2) circulation of currency Explanation: Gresham's law is an economic principle that states: "When a government compulsorily overvalues one type of money and undervalues another, the undervalued money will leave ... will flood into circulation." It is commonly stated as: "Bad money drives out good."

Gresham’s law is related to (1) Consumption and demand (2) Supply and demand (3) Circulation of money (4) Deficit financing

Description : Gresham’s law is related to (1) Consumption and demand (2) Supply and demand (3) Circulation of money (4) Deficit financing

Last Answer : Circulation of money

Name the curve which shows the quantity of products a seller wishes to sell at a given price level. (1) Demand curve (2) Cost curve (3) Supply curve (4) None of these

Description : Name the curve which shows the quantity of products a seller wishes to sell at a given price level. (1) Demand curve (2) Cost curve (3) Supply curve (4) None of these

Last Answer : (3) Supply curve Explanation: The supply curve shows the relationship between the price of a good and the quantity supplied, holding constant the values of all other variables that affect supply. Each point on the curve shows the quantity that sellers would choose to sell at a specific price.

Equilibrium price means - (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximize profit

Description : Equilibrium price means - (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximize profit

Last Answer : (1) Price determined by demand and supply Explanation: Equilibrium price is a state in economy where the supply of goods matches demand. When a major index experiences a period of consolidation or sideways ... short, it is the market price at which the supply of an item equals the quantity demanded.

Name the curve which shows the quantity of products a seller wishes to sell at a given price level. (1) Demand curve (2) Cost curve (3) Supply curve (4) None of these

Description : Name the curve which shows the quantity of products a seller wishes to sell at a given price level. (1) Demand curve (2) Cost curve (3) Supply curve (4) None of these

Last Answer :  Supply curve

Equilibrium price means (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximise profit

Description : Equilibrium price means (1) Price determined by demand and supply (2) Price determined by Cost and Profit (3) Price determined by Cost of production (4) Price determined to maximise profit

Last Answer :  Price determined by demand and supply

A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward

Description : A price consumption curve, traces the utility maximizing combination of two goods when (a) the price of one good changes (b) the consumer’s preference change © the consumer’s income changes (d) the demand curve for one of the goods shifts rightward

Last Answer : (a) the price of one good changes

Which of the following expresses the relationship of the input and output frequencies in a full wave rectifier? A. The output frequency is the same as input frequency. B. The output frequency is one-half the input frequency. C. The output frequency is twice the input frequency. D. The output frequency is four times the input frequency.

Description : Which of the following expresses the relationship of the input and output frequencies in a full wave rectifier? A. The output frequency is the same as input frequency. B. The output frequency is ... frequency is twice the input frequency. D. The output frequency is four times the input frequency.

Last Answer : Answer: C

Epx = Percentage change in Qy / Percentage change in Px The above relationship is : A.Arc Cross Price Elasticity B.Cost Output C.Cost Profit D.Capital Budgeting

Description : Epx = Percentage change in Qy / Percentage change in Px The above relationship is : A.Arc Cross Price Elasticity B.Cost Output C.Cost Profit D.Capital Budgeting

Last Answer : A.Arc Cross Price Elasticity

When the price of a commodity falls, we can expect - (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Description : When the price of a commodity falls, we can expect - (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Last Answer : (4) the demand for it to increase Explanation: In economics, the law of demand is an economic law, which states that consumers buy more of a good when its price is lower and less when its ... of good demanded by the consumer will be negatively correlated to the change in the price of the good

Equilibrium price is the price when : (1) supply is greater than demand (2) supply is less than demand (3) demand is very high (4) supply is equal to demand

Description : Equilibrium price is the price when : (1) supply is greater than demand (2) supply is less than demand (3) demand is very high (4) supply is equal to demand

Last Answer : (4) supply is equal to demand Explanation: The equilibrium price is the price where the goods and services supplied by the producer equals the goods and services demanded by the customer(s). How the equilibrium price is achieved is through the 'Invisible Hand', or market forces of the economy.

The equilibrium price of a commodity will definitely rise if there is a/an: (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Description : The equilibrium price of a commodity will definitely rise if there is a/an: (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Last Answer : (4) increase in demand accompanied by a decrease in supply. Explanation: Price of a commodity is always determined by the forces of demand and supply in the market. The price at which ... equilibrium price definitely increases when there is an increase in demand combined with the decrease in supply.

A fall in demand or rise in supply of a commodity— (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralizes the changes in the price (4) determines" the price elasticity

Description : A fall in demand or rise in supply of a commodity— (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralizes the changes in the price (4) determines" the price elasticity

Last Answer : (2) decreases the price of that commodity Explanation: The four basic laws of supply and demand are: (1) If demand increases and supply remains unchanged, a shortage occurs, leading to a higher ... (4) If demand remains unchanged and supply decreases, a shortage occurs, leading to a higher price.

Under flexible exchange rate system, the exchange rate is determined by - (1) the Central Bank of the country (2) the forces of demand and supply in the foreign exchange market (3) the price of gold (4) the purchasing power of currencies

Description : Under flexible exchange rate system, the exchange rate is determined by - (1) the Central Bank of the country (2) the forces of demand and supply in the foreign exchange market (3) the price of gold (4) the purchasing power of currencies

Last Answer : (2) the forces of demand and supply in the foreign exchange market Explanation: A floating exchange rate is a type of exchange rate regime wherein a currency's value is allowed to ... by the foreign-exchange market through supply and demand for that particular currency relative to other currencies.

The law of demand states that: a. as the quantity demanded rises, the price rises b. as the price rises, the quantity demanded rises c. as the price rises, the quantity demanded falls d. as supply rises, the demand rises

Description : The law of demand states that: a. as the quantity demanded rises, the price rises b. as the price rises, the quantity demanded rises c. as the price rises, the quantity demanded falls d. as supply rises, the demand rises

Last Answer : c. as the price rises, the quantity demanded falls

Milton Friedman gave emphasis in his quantity theory of money on (a) Production and Income (b) Price level (c) Supply of Money (d) Demand for Money

Description : Milton Friedman gave emphasis in his quantity theory of money on (a) Production and Income (b) Price level (c) Supply of Money (d) Demand for Money

Last Answer : (d) Demand for Money

Demand curve remaining the same, if the supply curve shifts to the right then (a) Price and quantity move in the same direction (b) Price and quantity move in the opposite direction © Price and quantity remain unchanged (d) None of the above.

Description : Demand curve remaining the same, if the supply curve shifts to the right then (a) Price and quantity move in the same direction (b) Price and quantity move in the opposite direction © Price and quantity remain unchanged (d) None of the above.

Last Answer : (b) Price and quantity move in the opposite direction

Under flexible exchange rate system, the exchange rate is determined by (1) the Central Bank of the country (2) the forces of demand and supply in the foreign exchange market (3) the price of gold (4) the purchasing power of currencies

Description : Under flexible exchange rate system, the exchange rate is determined by (1) the Central Bank of the country (2) the forces of demand and supply in the foreign exchange market (3) the price of gold (4) the purchasing power of currencies 

Last Answer :  the forces of demand and supply in the foreign exchange market

The equilibrium price of a commodity will definitely rise if there is a/an : (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Description : The equilibrium price of a commodity will definitely rise if there is a/an : (1) increase in supply combined with a decrease in demand. (2) increase in both demand and supply. (3) decrease in both demand and supply. (4) increase in demand accompanied by a decrease in supply.

Last Answer : increase in demand accompanied by a decrease in supply.

In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and supply forces in the market (3) the private-sector takes all the decisions for price-determination of various commodities produced (4) the Government controls the allocation of all the factors of production

Description : In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and ... of various commodities produced (4) the Government controls the allocation of all the factors of production

Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market

A fall in demand or rise in supply of a commodity– (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralises the changes in the price (4) determines the price elasticity

Description : A fall in demand or rise in supply of a commodity– (1) Increases the price of that commodity (2) decreases the price of that commodity (3) neutralises the changes in the price (4) determines the price elasticity

Last Answer : decreases the price of that commodity

When the price of a commodity falls, we can expect (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Description : When the price of a commodity falls, we can expect (1) the supply of it to increase (2) the demand for it to fall (3) the demand for it to stay constant (4) the demand for it to increase

Last Answer : the demand for it to increase

Leontief’s input output model is based on the concept of----- (a) Consumption function (b) Partial Equilibrium © General Equilibrium. (d) All of the above.

Description : Leontief’s input output model is based on the concept of----- (a) Consumption function (b) Partial Equilibrium © General Equilibrium. (d) All of the above.

Last Answer : © General Equilibrium.

The relationship between price of a commodity and the demand for it - (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Description : The relationship between price of a commodity and the demand for it - (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Last Answer : (2) is an inverse relationship Explanation: According to the Law of demand, consumers buy more of a good when its price is lower and less when its price is higher. It states that the quantity demanded and the prices of a commodity are inversely related, other things remaining constant.

Price elasticity of demand shows the relationship between demand for a commodity and (a) price of other commodities (b) price of that commodity © tastes and preferences of the consumer (d) income of the consumer

Description : Price elasticity of demand shows the relationship between demand for a commodity and (a) price of other commodities (b) price of that commodity © tastes and preferences of the consumer (d) income of the consumer

Last Answer : (b) price of that commodity

The relationship between price of a commodity and the demand for it (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Description : The relationship between price of a commodity and the demand for it (1) is a positive relationship (2) is an inverse relationship (3) They are independent of each other (4) They do not have any relationship

Last Answer :  is an inverse relationship

According to the effective demand principle: a) at a certain price, the output shall not be determined by any known factor b) at a certain price, the output will remain unaffected by rise or fall in demand c) at a certain price, equilibrium output will be solely determined by the aggregate demand d) none of the above

Description : According to the effective demand principle: a) at a certain price, the output shall not be determined by any known factor b) at a certain price, the output will remain unaffected by rise or ... certain price, equilibrium output will be solely determined by the aggregate demand d) none of the above

Last Answer : c) at a certain price, equilibrium output will be solely determined by the aggregate demand

If the demand curve confronting an individual firm is perfectly elastic, then firm is A.Price taker B.Adjust output C.Adjust priceD.All of theseAnswer Repor

Description : If the demand curve confronting an individual firm is perfectly elastic, then firm is A.Price taker B.Adjust output C.Adjust price D.All of these Answer Repor

Last Answer : A.Price taker

Demand is a function of A.Price B.Firm C.ProductD.Cost

Description : Demand is a function of A.Price B.Firm C.Product D.Cost

Last Answer : A.Price

Demand is a function of A.Price B.Firm C.Product D.Cost

Description : Demand is a function of A.Price B.Firm C.Product D.Cost

Last Answer : A.Price