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
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
Description : According to the aggregate supply curve, what happens as the price level increases?
Last Answer : Firms have more of an incentive to increase output.
Description : The law of demand states that - (1) if the price of a good increases, the demand for that good decreases. (2) if the price of a good increases, the demand for that good increases. (3) if ... of that good decreases (4) if the price of a good increases, the quantity demanded of that good increases.
Last Answer : (3) if the price of a good increases, the quantity demanded of that good decreases. Explanation: The law of demand states that, other things remaining the same, the quantity demanded of ... demand, there is an inverse relationship between price and quantity demanded, other things remaining the same.
Description : The law of demand states that (1) if the price of a good increases, the demand for that good decreases. (2) if the price of a good increases, the the demand for that good increases. (3) if ... of that good decreases. (4) if the price of a good increases, the quantity demanded of that good increases.
Last Answer : if the price of a good increases, the quantity demanded of that good decreases.
Description : According to Ohm’s law, what happens to circuit current if circuit resistance (a) increases, (b) decreases?
Last Answer : (a) Current decreases (b) Current increases
Description : According to Ohm’s law, what happens to circuit current if the applied voltage (a) increases, (b) decreases?
Last Answer : (a) Current increases (b) Current decreases
Description : If the price of an inferior good falls, what about its demand? -Do You Know?
Last Answer : answer:
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
Description : When price of a substitute of commodity falls, the demand for - (1) falls (2) remains unchanged (3) increases at increasing rate (4) rises
Last Answer : (1) falls Explanation: Cross Price Effect refers to effect on the demand for a given commodity due to a change in the price of a substitute commodity. A change (increase or decrease) in the ... the given commodity (tea) also decreases. It shifts the demand curve of the given commodity towards left.
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.
Description : To maximize market share, a firm may use _____________ pricing, which is based on the theory that as sales volume increases, unit costs will decrease. A. Market-penetration B. Market-skimming C. Value pricing D. Demand pricing E. Price bands
Last Answer : A. Market-penetration
Description : If Wilson Sporting Goods faces the classic demand curve characteristic for most products, as it raises the price of its tennis rackets, the: A)quantity demand goes down. B)demand remains constant. C)quantity demands increases.
Last Answer : A)quantity demand goes down.
Description : Which one of the following is NOT a benefit of multiple packaging? A)Facilitates special price offers B)Increases demand C)Increases consumer acceptance of the product D)Makes handling or storage easier E)Provides an overall image of the firm
Last Answer : E)Provides an overall image of the firm
Description : nelastic demand in industrial markets refers to a situation where A)demand for a given product fluctuates very little over time. B)price increases or decreases will not significantly alter demand for a ... for another product. E)supply for a given product cannot keep up with the demand for it.
Last Answer : )price increases or decreases will not significantly alter demand for a given product.
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 : 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 : 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 : The elasticity of a demand curve with a constant slope (a) Increases at higher price ; (b) Decreases at higher price; (c) Increases at lower price ; (d) Remains constant
Last Answer : (a) Increases at higher price ;
Description : When the price of complementary products increases, the demand of the other product will (a) Falls ; (b) Increases ; (c) Remains same ; (d) Increases by 25%
Last Answer : (a) Falls ;
Description : When the price of complementary products falls, the demand of the other product will (a) Fall ; (b) Increases ; (c) Remain stable ; (d) Drops by 25%
Last Answer : (b) Increases ;
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;
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 : When price of a substitute of commodity ‘x’ falls, the demand for ‘x’ : (1) falls (2) remains unchanged (3) increases at increasing rate (4) rises
Last Answer : falls
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
Description : According to Modern approach, law of demand is caused by (a) Income effect ; (b) Substitution effect ; (c) Both ; (d) None
Last Answer : (c) Both ;
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
Description : According to Hardy schultz law, the floculating power of an ion increases with :-
Last Answer : According to Hardy schultz law, the floculating power of an ion increases with :- A. Decreases in ... C. Decrease in charge D. Increase in charge
Description : 'Law of demand' implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls
Last Answer : (3) price of the commodity rises Explanation: The Law of demand states that the quantity demanded and the price of a commodity are inversely related, other things remaining constant. That is, if ... of the commodity the price starts rising and it continues to rise till equilibrium price is reached.
Description : In the law of demand, the statement "Other things remain constant" means - (1) income of consumer should not change (2) price of other goods should not change (3) taste of consumer should not change (4) All of the above
Last Answer : (4) All of the above 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 price is higher ... of good demanded by the consumer will be negatively correlated to the change in the price of the good.
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.
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
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
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 : The law of demand means? 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 : Answer- c
Description : The relation that the law of demand defines is. a) Income and price of a commodity b) Price and quantity of a commodity c) Income and quantity demanded d) Quantity demanded and quantity supplied
Last Answer : Answer- b
Description : ‘Law of demand’ implies that when there is excess demand for a commodity, then (1) price of the commodity falls (2) price of the commodity remains same (3) price of the commodity rises (4) quantity demanded of the commodity falls
Last Answer : price of the commodity rises
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
Description : In the law of demand, the statement “Other things remain constant” means (1) income of consumer should not change (2) price of other goods should not change (3) taste of consumer should not change (4) All of the above
Last Answer : All of the above
Description : According to Mendel’s law of segregation, what happens to chromosomes during meiosis?
Last Answer : According to mendel's law of segregation, what happens tochromosomes during meiosis is that, allele pairs do separateleaving each and every cell with a single allele for eachtrait.
Description : According to the ideal gas law, what happens to the volume of a gas when the pressure doubles (all else held constant)?
Last Answer : The volume is halved(Explanation): this is boyle's law PV=PV. In order to keep this equation true, if one variable (pressure in this case) is doubled, the other variable must be the reciprocal of that (in this case 1/2, which is reciprocal of double).
Description : What happens to the volume when the temperature is reduced to one-half according to Charles’s law?
Last Answer : If the temperature is reduced to one-half, the volume would also be reduced to one-half.
Description : What happens to the volume when the temperature is doubled according to Charles’s law?
Last Answer : If the temperature is doubled, the volume would also be doubled.
Description : Which provides the largest part of the demand for loanable funds in India? -Do You Know?
Description : According to which system are the members of the Rajya Sabha elected? -Do You Know?
Last Answer : Elections to the Rajya Sabha are indirect; members representing States are elected by elected members of legislative assemblies of the States in accordance with the system of proportional representation ... transferable vote, and those representing Union Territories are chosen in such manner as ...
Description : According to whom was persecutor of Buddhism? -Do You Know?