Theory of Demand-Test 3

The demand for factors of production is ————–

Cross elasticity of demand between two perfect substitutes will be ————-

What is the elasticity between midpoint and upper extreme point of a straight line continuous demand curve?

Price of Tiffin Box is Rs.100 per unit and the quantity demanded in market is 1,25,000 units. Company increased the price to Rs.125. Due to this increase in price, quantity demanded decreases to 1,00,000 units . What will be the price elasticity of demand?

The price of a commodity decreases from 10 to 8 and the quantity demanded of it  increases from 25 to 30 units, then the coefficient of price elasticity will be ———-

Which statement is true about the law of demand?

Which of the following is not a determinant of demand ?

A demand curve parallel to the Y-axis implies————

Generally, when income of consumer increases, he goes in for superior goods, leading to a fall in demand for inferior goods. It means, income elasticity of demand of superior goods————-

If the quantity demanded of X commodity increases by 5% when the price of Y commodity increases by 20%, the cross price elasticity of demand between X and Y commodity will be ————-

Straight line demanded curve at the point of meeting the X-axis will indicate elasticity coefficient equal to ————-

Change in the quantity demanded in response to changes in the price of same commodity is called ————–

Other things being equal , a fall in the price of the complementary goodwill cause the ———— of the other to rise.

A horizontal demand curve parallel to X-axis shows that the elasticity of demand is ————

When the price of a commodity increases from Rs.8 to Rs.9,its demand decreases by 10%.The price elasticity of demand for the commodity is ————-

Which of the following is correct about the price elasticity of demand of a commodity ?

The law of demand shows ———— relationship between price and quality demanded, other things remaining the same.

According to the Law of demand, there is an inverse relationship between:

Which of the following would cause the demand curve for automobiles to shift to the left ?

The price elasticity of demand at the midpoint of a straight line demand curve is —————

Conspicuous goods are known as ————

Relative price means ———–

Calculate income elasticity for a household when the income rises by 10% and the demand for rice raises by 5%.

In the case of a straight line demand curve meeting the two axis, the price elasticity of demand at Y-axis of the line would be equal to ————

In case of Luxury items income elasticity of demand is ————

If as a result of 50% rise in price, the quality demanded does not change at all, it implies that the elasticity of the demand is ————–

Upon which of the following elements,effective demand does not depend ?

In the case of an inferior good, the income elasticity of demand is ———–

Which of the following pairs of goods is an example of substitutes?

Elasticity between two points :