Description : Movement along the same demand curve is know as - (1) Extension and Contraction of Demand (2) Increase and Decrease of Demand (3) Contraction of supply (4) Increase of supply
Last Answer : (2) Increase and Decrease of Demand Explanation: A shift in the demand curve is caused by a factor affecting demand other than a change in price. If any of these factors change then the amount ... of a change in supply conditions. The factors affecting demand are assumed to be held const ant.
Description : An increase in the quantity supplied suggests - (1) a leftward shift of the supply curve (2) a movement up along the supply curve (3) a movement down along the supply curve (4) a rightward shift of the supply curve
Last Answer : (2) a movement up along the supply curve Explanation: Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of ... Producers supply more at a higher price because selling a higher quantity at an higher price increases revenue.
Description : An increase in the quantity supplied suggests : (1) a leftward shift of the supply curve (2) a movement up along the supply curve (3) a movement down along the supply curve (4) a rightward shift of the supply curve
Last Answer : a movement up along the supply curve
Description : Shifts in demand curve include A.Increase in Demand (Upward shift) B.Extention in demand C.Contraction in demand D.None of the above
Last Answer : A.Increase in Demand (Upward shift)
Description : When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will - (1) decrease (2) increase (3) remain the same (4) contract
Last Answer : (2) increase Explanation: In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to ... is movement along a demand curve when a change in price causes the quantity demanded to change.
Description : When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will (1) decrease (2) increase (3) remain the same (4) contract
Last Answer : increase
Description : A movement along the supply curve can be caused by a change in (a) Technology (b) Factor prices (c) The price of the good (d) All of these
Last Answer : (a) Technology
Description : Change in cost of production of the concerned goods causes (a) The demand curve to shift ; (b) The supply curve to shift ; (c) Increase in quantity demanded; (d) Decrease in quantity supplied
Last Answer : (b) The supply curve to shift ;
Description : An increase in product price will cause (a) quantity demanded to decrease (b) quantity supplied to decrease © quantity demanded to increase (d) the demand curve to shift to the left
Last Answer : (a) quantity demanded to decrease
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.
Description : Demand pull inflation may be caused by (a) An increase in cost (b) A decrease in interest rate © A reduction in government spending (d) An outward shift of aggregate supply.
Last Answer : (b) A decrease in interest rate
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.
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
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.
Description : The law of diminishing marginal utility is most useful for explaining the (a) Law of supply (b) Law of demand © Shape of production possibility curve (d) curvature of total cost curve
Last Answer : (b) Law of demand
Last Answer : Supply curve
Description : Extension or contraction of quantity demanded of a commodity is a result of a change in the - (1) unit price of the commodity (2) income of the consutner (3) tastes of the consumer (4) climate of the region
Last Answer : (1) unit price of the commodity Explanation: Demand for a commodity refers to the quantity of the commodity that people are willing to purchase at a specific price per unit of time, other factors ... In other words, higher the price, lower the demand and vice versa, other things remaining constant.
Description : Extension or contraction of quantity demanded of a commodity is a result of a change in the (1) unit price of the commodity (2) income of the consumer (3) tastes of the consumer (4) climate of the region
Last Answer : unit price of the commodity
Description : What does a movement along the demand curve mean?
Last Answer : Need answer
Description : Change in quantity demanded or Movement along demand curve occurs due (a) Due to change in price only ; (b) Change in Cetris paribus conditions only ; (c) Change in cost of production ; (d) Change in technology
Last Answer : (a) Due to change in price only ;
Description : If price of Choco bar decreases we except (a) The quantity demanded to increase ; (b) Quantity demanded to decrease; (c) Demand curve to shift left ; (d) No change in quantity demanded
Last Answer : (a) The quantity demanded to increase ;
Description : Shift in Demand curve or change in Demand curve occurs due to (a) Increase in price ; (b) Decrease in cost of production ; (c) Change in Cetris paribus conditions ; (d) All the three
Last Answer : (c) Change in Cetris paribus conditions ;
Description : Shift in supply curve is cause by (a) Change in citrus paribus conditions ; (b) Increase in price; (c) Decrease in price ; (d) Change in consumer income
Last Answer : (a) Change in citrus paribus conditions ;
Description : What effect will a decrease in demand and increase in supply will have on equilibrium price?
Last Answer : Equilibrium price will fall
Description : If supply and demand both shift outward, but demand shifts outward more than supply, the equilibrium price (a) will increase and quantity will increase ; (b) will increase and quantity will decrease; (c) will decrease and quantity will decrease ; (d) will decrease and quantity will increase
Last Answer : (a) will increase and quantity will increase ;
Description : Curvature of PPF is due to……… (a) Increase in opportunity cost ; (b) Decrease in opportunity cost ; (c) Fall in demand; (d) Fall in supply
Last Answer : (a) Increase in opportunity cost ;
Description : If the price of Pepsi decreases relative to the price of Coke and 7-Up, the demand for (1) Coke will decrease (2) 7-Up will decrease (3) Coke and 7-Up will increase (4) Coke and 7-Up will decrease
Last Answer : (4) Coke and 7-Up will decrease Explanation: Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or ... it, while the demand for Coke and 7-Up will decrease because of no change in their price level.
Description : If consumer’s income increases, the demand for normal product X (a) will remain unchanged (b)will necessarily increase © will necessarily decrease (d) may increase or decrease
Last Answer : (b)will necessarily increase
Description : An increase in consumption at any given level of income will lead to (a) Higher aggregate demand. (b) An increase in exports. © A fall in taxation revenue. (d) A decrease in import spending.
Last Answer : (a) Higher aggregate demand.
Last Answer : Coke and 7-Up will decrease
Description : if you suspect atrial flutter : Consider digoxin if not already in use because it frequently increases the conduction ratio and decreases the ventricular rate. , Avoid adrenergic and ... to the muscle decrease blood supply to the muscle the heart trying to beat fast ______________________________
Last Answer : decrease O2 supply to the muscle
Description : Which of the following can be used for checking inflation temporarily? (1) Increase in wages (2) Decrease in money supply (3) Decrease in taxes (4) None of these
Last Answer : (2) Decrease in money supply Explanation: An open market operation (also known as OMO) is an activity by a central bank to buy or sell government bonds on the open market. India ... those in the other developed countries. Economists claim that an increase in money supply alone constitutes inflation.
Description : Inflation is caused by - (1) increase in money supply and decrease in production (2) increase in money supply (3) increase in production (4) decrease in production
Last Answer : (1) increase in money supply and decrease in production Explanation: Economists generally agree that in the long run, inflation is caused by increases in the money supply. According to the theory of ... few goods. The increase in money supply is not matched by the equivalent production of goods.
Description : If he Central Bank wants to encourage an increase in the supply of money and decrease in the cost of borrowing money, it should - (1) lower cash reserve ratio (2) raise discount rates (3) sell government securities (4) All of the above
Last Answer : (1) lower cash reserve ratio Explanation: When the Central Bank of a country intends to increase money supply, it should lower the Cash Reserve Ratio. A decrease in CRR helps the commercial banks to ... the amount of Bank deposits and they will lend more as they have more amount as their reserve.
Description : A rightward shift in the supply schedule indicates (a) a decrease in supply (b) an increase in supply © an increase in quantity supply (d) a decrease in quantity supply
Last Answer : (b) an increase in supply
Description : Inflation is caused by (1) increase in money supply and decrease in production (2) increase in money supply (3) increase in production (4) decrease in production
Last Answer : increase in money supply and decrease in production
Description : If the Central Bank wants to encourage an increase in the supply of money and decrease in the cost of borrowing money, it should (1) lower cash reserve ratio (2) raise discount rates (3) sell government securities (4) All of the above
Last Answer : lower cash reserve ratio
Description : Which of the following can be used for checking inflation temporarily ? (1) Increase in wages (2) Decrease in money supply (3) Decrease in taxes (4) None of these
Last Answer : Decrease in money supply
Description : Decrease in Demand is also known as (a) Expansion in demand ; (b) Compression in demand ; (c) Extension in demand; (d) Extraction in demand
Last Answer : (d) Extraction in demand
Description : Would a wage increase affect aggregate demand or supply?
Last Answer : I don’t know much about economics, but the third option is that the effects might cancel out, meaning no change.
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
Description : An increase in aggregate demand is more likely to lead to demand pull inflation (a) If aggregate supply is completely elastic (b) If aggregate supply is completely inelastic © If aggregate supply is unitary elastic (d) If aggregate supply is moderately elastic
Last Answer : (b) If aggregate supply is completely inelastic
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
Description : A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs
Last Answer : (a) Same as its average revenue curve ;
Description : Demand curve shifts downwards when (a) at the same price level demand falls (b) price increases and demand falls © price falls and demand also falls (d) at the same price level demand increases
Last Answer : © price falls and demand also falls
Description : An increase in interest rates (a) is likely to reduce savings (b) is likely to reduce external value of currency © Leads to a shift in the MEC schedule (d) Leads to a movement along MEC schedule.
Last Answer : (d) Leads to a movement along MEC schedule
Description : A positive sloped supply curve for a product represents (a) Supply will move with movement in the price in the opposite direction; (b) Supply will move with the movement in the price in the same direction; (c) Both ; (d) None
Last Answer : (b) Supply will move with the movement in the price in the same direction;
Description : Increase in Demand is also known as – in economics (a) Expansion in demand ; (b) Compression in demand ; (c) Extension in demand; (d) Extraction in deman
Last Answer : (a) Expansion in demand ;
Description : What is the price at which the supply curve for a good and its demand curve intersect called?
Last Answer : Equilibrium price
Description : An improvement in technology would shift (a) the demand curve inward ; (b) the demand curve outward ; (c) the supply curve inward (d) the supply curve outward
Last Answer : (d) the supply curve outward