Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income

Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income
by

1 Answer

Answer :

; (d) Consumers disposal income
by

Related questions

The supply of goods means …………… (a) Quantity offered for sale at a given price and time ; (b) Quantity produced by the manufacturer ; (c) Quantity available with the supplier (d) Consumers disposal income

Description : The supply of goods means …………… (a) Quantity offered for sale at a given price and time ; (b) Quantity produced by the manufacturer ; (c) Quantity available with the supplier (d) Consumers disposal income

Last Answer : (a) Quantity offered for sale at a given price and time ;

The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production

Description : The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production 

Last Answer : ; (d) Price of factor of production

If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase

Description : If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase

Last Answer : (a) Equilibrium quantity will decrease ;

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

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 ;

The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three

Description : The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three

Last Answer : (d) All the three

Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three

Description : Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three

Last Answer : (d) All the three

If both the disposal income as well as number of suppliers of a product rises, the equilibrium (a) Price remain same ; (b) Price will go up ; (c) Quantity will go up ; (d) Quantity will go down

Description : If both the disposal income as well as number of suppliers of a product rises, the equilibrium (a) Price remain same ; (b) Price will go up ; (c) Quantity will go up ; (d) Quantity will go down

Last Answer : (c) Quantity will go up ;

Change in consumers tastes and preference causes – of the particular goods (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price ; (d) No effect on quantity demanded

Description : Change in consumers tastes and preference causes – of the particular goods (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price ; (d) No effect on quantity demanded

Last Answer : (b) Shift in demand curve ;

At a given price increase in quantity supplied can be possible if …………… (a) There is apprehension of sharp fall in prices in future ; (b) Refund or subsidy of statutory levy in cash is given by the Government; (c) Improvement in technology led to cost saving ; (d) All the three

Description : At a given price increase in quantity supplied can be possible if …………… (a) There is apprehension of sharp fall in prices in future ; (b) Refund or subsidy of statutory levy in cash is given by the Government; (c) Improvement in technology led to cost saving ; (d) All the three

Last Answer : ; (d) All the three

A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : (a) An increase in demand ;

A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : ; (c) Decrease in demand ;

Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity supplied at the set price ; (c) at the set price there is a surplus ; (d) None of above

Description : Which of the following is correct for the price ceiling which is set below the market s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity ... the set price ; (c) at the set price there is a surplus ; (d) None of above 

Last Answer : (a) quantity demanded exceeds quantity supplied at the set price;

Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above

Description : Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above

Last Answer : (c) quantity supplied exceeds quantity demanded at the set price ;

Simultaneous increase in demand and quantity supplied will (a) Increase in equilibrium price and quantity ; (b) Decrease equilibrium price and quantity (c) Increase equilibrium price but decrease quantity ; (d) Decrease equilibrium price but increase quantity

Description : Simultaneous increase in demand and quantity supplied will (a) Increase in equilibrium price and quantity ; (b) Decrease equilibrium price and quantity (c) Increase equilibrium price but decrease quantity ; (d) Decrease equilibrium price but increase quantity

Last Answer : (a) Increase in equilibrium price and quantity ;

The Supply function of a product x is as Sx = 5px + 3. Where Px stand for price. The quantity supplied corresponding to price of `2 will be …………… (a) 18 ; (b) 13 ; (c) 15 ; (d) 23

Description : The Supply function of a product x is as Sx = 5px + 3. Where Px stand for price. The quantity supplied corresponding to price of `2 will be …………… (a) 18 ; (b) 13 ; (c) 15 ; (d) 23

Last Answer : (b) 13 ;

Which of these would lead to decrease in quantity supplied at a given price (a) Decrease in VAT ; (b) Decrease in excise duty; (c) Decrease in import duty ; (d) Imposition of higher levies

Description : Which of these would lead to decrease in quantity supplied at a given price (a) Decrease in VAT ; (b) Decrease in excise duty; (c) Decrease in import duty ; (d) Imposition of higher levies

Last Answer :  (d) Imposition of higher levies

Which of these would lead to increase in quantity supplied at a given price (a) Increase in VAT ; (b) Increase in excise duty ; (c) Increase in import duty ; (d) Reduction in levies

Description : Which of these would lead to increase in quantity supplied at a given price (a) Increase in VAT ; (b) Increase in excise duty ; (c) Increase in import duty ; (d) Reduction in levies

Last Answer : (d) Reduction in levies

Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products

Description : Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products

Last Answer : (b) Number of buyers ;

Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products

Description : Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products

Last Answer :  (b) Number of buyers 

At a given time and in a given marketplace, the entire market demand curve indicates the (a) quantity of a good consumers would be willing and able to purchase at a given price. (b) quantity of a good consumers would be able to purchase at a series of prices. (c) quantity of a good consumers want to purchase at a given price (d) quantity of a good consumers have purchased at a series of prices over the year.

Description : At a given time and in a given marketplace, the entire market demand curve indicates the (a) quantity of a good consumers would be willing and able to purchase at a given price. (b) quantity of a ... a given price (d) quantity of a good consumers have purchased at a series of prices over the year.

Last Answer : (b) quantity of a good consumers would be able to purchase at a series of prices. 

The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers for the product under question. What will be the equilibrium price (a) `4 ; (b) `5 ; (c) `3 ; (d) `4.5

Description : The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers ... be the equilibrium price (a) `4 ; (b) `5 ; (c) `3 ; (d) `4.5

Last Answer : ; (c) `3 ;

According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three

Description : According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three

Last Answer : (d) All the three

Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices

Description : Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices 

Last Answer : (a) Quantity demanded ;

National income is the ……………. Of all the goods and services produced by a country during a period of year (a) Physical quantity ; (b) Money value ; (c) `Value ; (d) All the three

Description : National income is the ……………. Of all the goods and services produced by a country during a period of year (a) Physical quantity ; (b) Money value ; (c) `Value ; (d) All the three 

Last Answer : (b) Money value ; 

According to law of demand (a) Higher the price higher the production of the product (b) Higher the price lower the cost of production (c) Lower the price higher the demand for the product (d) Higher price higher the quantity the more the consumer demand

Description : According to law of demand (a) Higher the price higher the production of the product (b) Higher the price lower the cost of production (c) Lower the price higher the demand for the product (d) Higher price higher the quantity the more the consumer demand

Last Answer : (c) Lower the price higher the demand for the product 

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

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 ;

The quantity that an individual supplier is prepared to supply over a period of time is a function of (a) Price of the product ; (b) Cost of production of the product ; (c) Both ; (d) None

Description : The quantity that an individual supplier is prepared to supply over a period of time is a function of (a) Price of the product ; (b) Cost of production of the product ; (c) Both ; (d) None

Last Answer : ; (c) Both ;

According to law of supply ……….. (a) Higher the price higher the production of the product; (b) Higher the price lower the cost of production ; (c) Lower the price lower the demand for the product; (d) Higher the price higher the quantity the seller is prepared to supply in market

Description : According to law of supply ……….. (a) Higher the price higher the production of the product; (b) Higher the price lower the cost of production ; (c) Lower the price lower the demand for the product; (d) Higher the price higher the quantity the seller is prepared to supply in market

Last Answer : (d) Higher the price higher the quantity the seller is prepared to supply in market 

Change in price of the goods cause (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price; (d) No effect on quantity demanded

Description : Change in price of the goods cause (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price; (d) No effect on quantity demanded 

Last Answer : (a) Change in quantity demanded ;

………………… is the personal income minus personal income tax and miscellaneous receipts of Government administrative departments. (a) Surplus income ; (b) Disposal income ; (c) Expendable income ; (d) Residual income

Description : ………………… is the personal income minus personal income tax and miscellaneous receipts of Government administrative departments. (a) Surplus income ; (b) Disposal income ; (c) Expendable income ; (d) Residual income

Last Answer :  (b) Disposal income ;

If the disposal income of a household decreases by 10% and the demand for X commodity remains same. The income elasticity of X is (a) 0 ; (b) 0.5 ; (c) 0.5 ; (d) 2.5

Description : If the disposal income of a household decreases by 10% and the demand for X commodity remains same. The income elasticity of X is (a) 0 ; (b) 0.5 ; (c) 0.5 ; (d) 2.5 

Last Answer : (a) 0 ;

If the disposal income of a household increases by 10% and the demand for X commodity increased by 10% the income elasticity of X is (a) 1.5 ; (b) 0.5 ; (c) 1.5 ; (d) 1.0

Description : If the disposal income of a household increases by 10% and the demand for X commodity increased by 10% the income elasticity of X is (a) 1.5 ; (b) 0.5 ; (c) 1.5 ; (d) 1.0

Last Answer :  (d) 1.0 

If the disposal income of a household increases by 10% and the demand for X commodity increased by 25%. The income elasticity of X is (a) 1.5 ; (b) -0.5 ; (c) 2.5 ; (d) -2.5

Description : If the disposal income of a household increases by 10% and the demand for X commodity increased by 25%. The income elasticity of X is (a) 1.5 ; (b) -0.5 ; (c) 2.5 ; (d) -2.5

Last Answer : ; (c) 2.5 ;

If the disposal income of a household increases by 10% and the demand for bread falls by 5%. The income elasticity of bread is (a) 0.5 ; (b) -0.5 ; (c) 1.0 ; (d) -1.0

Description : If the disposal income of a household increases by 10% and the demand for bread falls by 5%. The income elasticity of bread is (a) 0.5 ; (b) -0.5 ; (c) 1.0 ; (d) -1.0

Last Answer :  (b) -0.5 ;

The measurement of sensitivity of quantity demand to change in price is calle(d) (a) Price elasticity ; (b) Income elasticity ; (c) Expansion in demand ; (d) None

Description : The measurement of sensitivity of quantity demand to change in price is calle(d) (a) Price elasticity ; (b) Income elasticity ; (c) Expansion in demand ; (d) None

Last Answer : (a) Price elasticity

The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.

Description : The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.

Last Answer : (a) Net Domestic Product at factor cost ;

GDP at factor cost exceeds GDP at market price (a) When the factor income from abroad is negative ; (b) When depreciation on fixed capital exceeds income in investment; (c) When direct tax exceeds indirect tax ; (d) When subsidies exceeds indirect taxes.

Description : GDP at factor cost exceeds GDP at market price (a) When the factor income from abroad is negative ; (b) When depreciation on fixed capital exceeds income in investment; (c) When direct tax exceeds indirect tax ; (d) When subsidies exceeds indirect taxes.

Last Answer : (d) When subsidies exceeds indirect taxes. 

Net factor income from abroad is equal to (a) NNP at market price – NDP at market price ; (b) NDP at market prices – Indirect taxes + Subsidies ; (c) NDP at factor cost + Depreciation ; (d) NNP at market prices + Depreciation

Description : Net factor income from abroad is equal to (a) NNP at market price – NDP at market price ; (b) NDP at market prices – Indirect taxes + Subsidies ; (c) NDP at factor cost + Depreciation ; (d) NNP at market prices + Depreciation

Last Answer : (a) NNP at market price – NDP at market price ;

GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents

Description : GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents 

Last Answer : ; (b) Indirect taxes ;

The central problem of how to produce is resolved by (a) Demand and supply of factor inputs ; (b) Demand and supply of goods; (c) Relative prices and availability of factors of production ; (d) Government intervention

Description : The central problem of how to produce is resolved by (a) Demand and supply of factor inputs ; (b) Demand and supply of goods; (c) Relative prices and availability of factors of production ; (d) Government intervention

Last Answer : (c) Relative prices and availability of factors of production

The minimum price that a supplier expect to make available a specific quantity for sale is called (a) Demand price ; (b) Administered price ; (c) Cost price ; (d) Supply price

Description : The minimum price that a supplier expect to make available a specific quantity for sale is called (a) Demand price ; (b) Administered price ; (c) Cost price ; (d) Supply price

Last Answer :  (d) Supply price

If a firms cost of raw material increases then (a) Market price of the final product will also increase (b) Equilibrium level of quantity also increases ; (c) Marginal cost curve will shift upward (d) Marginal cost curve will shift downward

Description : If a firms cost of raw material increases then (a) Market price of the final product will also increase (b) Equilibrium level of quantity also increases ; (c) Marginal cost curve will shift upward (d) Marginal cost curve will shift downward

Last Answer : ; (c) Marginal cost curve will shift upward

Economic efficiency means (a) Production of goods of mass consumption at lower cost; (b) Production of goods and services for those who have purchasing power; (c) Getting greatest satisfaction from available resources ; (d) Full employment of working force

Description : Economic efficiency means (a) Production of goods of mass consumption at lower cost; (b) Production of goods and services for those who have purchasing power; (c) Getting greatest satisfaction from available resources ; (d) Full employment of working force

Last Answer : (c) Getting greatest satisfaction from available resources 

Price elasticity of demand of a product will be more inelastic if (a) It forms a major part of consumer house hold budget; (b) It forms a very small part of consumers household budget; (c) It is inferior ; (d) It is for mass consumption

Description : Price elasticity of demand of a product will be more inelastic if (a) It forms a major part of consumer house hold budget; (b) It forms a very small part of consumers household budget; (c) It is inferior ; (d) It is for mass consumption

Last Answer : (b) It forms a very small part of consumers household budget; 

Given the supply quantity which is fixed an increase in aggregate demand will have direct impact on (a) Increase in GDP ; (b) Inflationary pressure ; (c) Greater employment opportunity; (d) More equitable distribution of income and wealth

Description : Given the supply quantity which is fixed an increase in aggregate demand will have direct impact on (a) Increase in GDP ; (b) Inflationary pressure ; (c) Greater employment opportunity; (d) More equitable distribution of income and wealth 

Last Answer : (b) Inflationary pressure ;

Which of these is/are not included in net domestic product at factor cost. (a) Wages or compensation of employees ; (b) Rent, interest, profits or operating surplus; (c) Mixed income ; (d) None

Description : Which of these is/are not included in net domestic product at factor cost. (a) Wages or compensation of employees ; (b) Rent, interest, profits or operating surplus; (c) Mixed income ; (d) None

Last Answer : (d) None

National income is (a) NDP at market prices ; (b) NDP at factor cost ;(c) NNP at factor cost ; (d) GNP at market prices.

Description : National income is (a) NDP at market prices ; (b) NDP at factor cost ;(c) NNP at factor cost ; (d) GNP at market prices.

Last Answer : ;(c) NNP at factor cost ;

Two commodities X and Y goods can be inferred as close substitute of each other if – (a) Increase in price of one leads to increase in demand of other and vice versa (b) Increase in price of one leads to decrease in demand of other and vice versa (c) Fall in price of one lead to fall in demand of other one (d) Increase in price of one leads to increase in demand of other one

Description : Two commodities X and Y goods can be inferred as close substitute of each other if - (a) Increase in price of one leads to increase in demand of other and vice versa (b) Increase in price of one ... fall in demand of other one (d) Increase in price of one leads to increase in demand of other one

Last Answer : (a) Increase in price of one leads to increase in demand of other and vice versa 

If demand of coffee increases by 10% with 20% decline in the price of sugar we can say that (a) Cross price elasticity of demand is negative and both the products are complementary to each other; (b) Cross price elasticity of demand is negative and the goods are substitute; (c) Cross price elasticity is positive and the products are complementary to each other ; (d) None of these

Description : If demand of coffee increases by 10% with 20% decline in the price of sugar we can say that (a) Cross price elasticity of demand is negative and both the products are complementary to each other ... price elasticity is positive and the products are complementary to each other ; (d) None of these 

Last Answer : (a) Cross price elasticity of demand is negative and both the products are complementary to each other;

Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three

Description : Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three

Last Answer : (d) All the three