Theory of Demand-Test 1

Demand for a commodity refers to ———-

Suppose the price of movies seen at a theatre rises from Rs.120 per person to Rs.200 per person. The theatre manager observed that the rise in prices has lead

to a fall in attendance at a given movie from 300 persons to 200 persons . What is the price elasticity of demand for the movie?

In case of interior goods ,the income elasticity of demand is ————-

For what type of goods does demand fall with a rise in income levels of households?

In case of inferior goods like bajra, a fall in its price tends to ————-

Movement along the same demanded curve shows ————–

The price of hot-dogs increases by 22% and the quantity demanded falls by 25% this indicates that demand for hot dogs is ———–

The quantity demanded does not respond to price change and so the elasticity is ———–

What is Engels curve?

Which factor generally keeps the price elasticity of demand for a goods low

In case of straight line demand curve meeting the two axes, the price elasticity of demand at the mid-point of the line would be ————-

An increase in demand can result from ———–

Compute income elasticity, if demand increases by 5% and income by 1%

For a commodity with a unitary elastic demand curve if the price of the commodity rises. then the consumer’s total expenditure on this commodity would

What is the value of elasticity of demand if the demand for the goods is perfectly elastic ?

What is the original price of a commodity when price elasticity is 0.71 and demand changes form 20 units to 15 units and the new price is ?

If the price of any complement goods rises:

Cross elasticity of demand in Monopoly market is ——-

What is income elasticity of demand when income changes by 20% and demand changes by 40%

If demand is parallel to X axis ,what will be the nature of elasticity

Giffen paradox is an exception of —————

Law of demand is a —————

The demand of which type of goods do not decrease with increase in its price ————-

Increase in price from Rs.4 to Rs.6 then decrease in demand from 15 units to 10 units.What is the price elasticity.

Expansion and contraction of Demand curve occurs due to ————

Elasticity between two points————

When price remains constant and quantity  demanded changes, then the elasticity of demand will be ————

Demand of a commodity depends upon ————–

In case of substitute goods, Cross elasticity is ————-

The prices of a commodity were increased from Rs.4 to Rs.6. As a result demand decrease from 15 units to 10 Units . What is the price elasticity ————-