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 : 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
Description : In four stroke engine which of the following is also known as power stroke a. Suction stroke b. Compression stroke c. Expansion stroke d. Exhaust stroke (Ans:c) Measurements of fuel and air ... into IC engine,___________its efficiency A. increase B. decrease C. does not alter D. unpredictable on
Last Answer : ANSWER : B
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 : The price of Ford automobiles increases and the price of Chevrolets remains constant, the demand for Chevrolets will (a) increase ; (b) decrease ; (c) decrease then increase ; (d) increase then decrease
Last Answer : (a) increase ;
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 ;
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 : 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 ;
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 ;
Description : Two Commodities X and UY can be inferred as complementary to 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 one (d) Increase in price of one leads to increase in demand of other one
Last Answer : (b) Increase in price of one leads to decrease in demand of other and vice versa
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
Description : If price of Tea increases the demand of coffee will (a) Increase ; (b) Decrease ; (c) Remain same ; (d) Cannot say
Last Answer : (a) 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 : 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 : If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price (a) 19 increase ; (b) 19% decrease ; (c) 20.95% increase ; (d) 20.6% decrease
Last Answer : (a) 19 increase ;
Description : As per total outlay method, demand is said to be elastic if as result of change in price total outlay (a) Increases ; (b) Decrease ; (c) Remain same ; (d) None
Last Answer : (c) Remain same ;
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 : What will happen if a firm in perfect competitive market, increase its output by 50% (a)Total sales revenue will also increase by 50% ; (b) (b)Selling price will come down by 50%; (c)Total sales revenue will decrease by 50% ; (d)Profit will increase by 25%
Last Answer : (a)Total sales revenue will also increase by 50% ;
Description : If someone keeps some money for bad days, this demand for money is known by ……. motive of money (a) Speculative ; (b) Transaction ; (c) Precautionary ; (d) Store
Last Answer : (c) Precautionary ;
Description : Increase in price of a product reduces the purchasing power as a result of which demand for a product goes up. This effect is known as (a) Substitution effect ; (b) Income effect ; (c) Diminishing marginal utility concept (d)Law of diminishing returns
Last Answer : ; (b) Income effect ;
Description : Unemployment that arises due to regional occupational pattern of job vacancies, which does not match the pattern of workers availability and suitability, is known as (a) Frictional unemployment ; (b) Structural unemployment ; (c) Cyclical unemployment ; (d) Demand pull unemployment.
Last Answer : (b) Structural unemployment
Description : In an agricultural family all the family members are working the farmland of the family. Due to addition of two more person in the family they are also working in the farmland of the ... (a) Cyclical unemployment ; (b) Disguised unemployment ; (c) Frictional unemployment (d) Seasonal unemployment
Last Answer : (b) Disguised unemployment ;
Description : Green revolution is also known as (a) Wheat revolution ; (b) Milk revolution ; (c) Grain revolution ; (d) Chipko movement
Last Answer : (a) Wheat revolution ;
Description : Variable cost is also known as (a) Incremental cost ; (b) Marginal cost ; (c) Differential cost ; (d) All the three
Last Answer : (d) All the three
Description : As a certain type of clothing becomes more fashionable, we would expect its equilibrium price (a) to decrease and quantity will remain constant ; (b) and quantity will decrease; (c) to increase and quantity to decrease ; (d) and quantity to increase
Last Answer : ; (d) and quantity to increase
Description : If RBI wants to decrease the money supply in order to check inflation it will (a) Sell bonds ; (b) Increase CRR ; (c) Hike bank rate ; (d) All or any of the above three
Last Answer : ; (d) All or any of the above three
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 ;
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 : 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
Description : A decrease in price will result in an increase in total revenue if (a) Percentage change in quantity demanded in greater than the percentage change in price (b) Percentage change in quantity demanded ... (c) Percentage change in quantity demanded is equal to the percentage change in price (d) None
Last Answer : (a) Percentage change in quantity demanded in greater than the percentage change in price
Description : Which of these costs will increase or decrease with increase in production (a) Marginal cost ; (b) Financial costs ; (c) Fixed costs ; (d) All the three
Last Answer : (a) Marginal cost ;
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
Description : A typical demand curve will normally have a (a) positive slope ; (b) horizontal slope ;(c) vertical slope ; (d) negative slope
Last Answer : (d) negative slope
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.
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 ;
Description : Cost push inflation arises due to (a) Persistent rise in factor cost ; (b) Mismatch between demand and supply of commodities (c) Combine phenomena of demand pull and cost-push inflation. ; (d) Increase in price of precious metal
Last Answer : (a) Persistent rise in factor cost ;
Description : Demand pull inflation rises due to (a) Persistent rise in factor cost ; (b) Mismatch between demand and supply of commodities (c) Combine phenomena of demand pull and cost-push inflation. ; (d) Increase in Price of precious metal
Last Answer : ; (b) Mismatch between demand and supply of commodities
Description : Which of these would lead to fall in demand for money? (a) Inflation ; (b) Increase in real income ; (c) Increase in real rate of interest ; (d) Increase in wealth
Last Answer : (c) Increase in real rate of interest ;
Description : Which of these affects the demand for money? (a) Real income ; (b) Price level ; (c) Rate of interest ; (d) All the three
Description : The demand curve of a Monopoly firm is – (a) Same that of a firm in a perfect competition ; (b) Same as that of the total market demand; (c) Non-exist ; (d) Perfectly elastic
Last Answer : (b) Same as that of the total market demand;
Description : …….. is the price at which demand for a commodity is equal to its supply (a) Normal price ; (b) Equilibrium price ; (c) Short run price ; (d) Secular price
Last Answer : ; (b) Equilibrium price ;
Description : Which of the following statement is true (a) Monopolist are price takers ; (b) Monopoly firm earn abnormal profits; (c) A Monopoly firm faces straight demand line ; (d) Supply curve of a monopoly firm is positive sloped
Last Answer : (a) Monopolist are price takers ;
Description : Demand curve of an Oligopoly firm is characterized by (a) Horizontal to X axis ; (b) Kink at the price ; (c) U shaped curve ; (d) A liner line
Last Answer : (b) Kink at the price ;
Description : Which of the following faces a downward sloping demand curve (a) Firm in a competitive market ; (b) Firm in a monopoly market ; (c) Both ; (d) None
Last Answer : (b) Firm in a monopoly market ;
Description : For a monopoly firm market demand curve is (a) Marginal revenue curve itself ; (b) Average Revenue curve itself ; (c) Marginal cost curve (d) None
Last Answer : (b) Average Revenue curve itself ;
Description : Under perfect market conditions a firm is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is the maximum; (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum
Last Answer : (b) Profit is the maximum;
Description : Under perfect market conditions an Industry is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is maximum (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum
Last Answer : (a) Total output is equal to total demand ;
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 : When the Demand curve of a pure monopoly firm is elastic, MR will be (a) Negative ; (b) Positive ; (c) Zero ; (d) Any of these
Last Answer : (b) Positive ;
Description : In the long run price is governed by …………. (a) Cost of Production ; (b) Demand supply forces ; (c) Marginal utility ; (d) None
Last Answer : (a) Cost of Production ;