Online Mock Tests in Theory of Demand in Economics for The preparation of professional exams of CA cpt, CA foundation, CS foundation, CMA foundation , And Also for B.com, M.com, MBA
Theory of Demand-Test 3
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Subject : General Economics Questions : 30
Chapter :Theory of Demand -Test 3
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Cross elasticity of demand between two perfect substitutes will be ————-
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Question 3 of 30
3. Question
1 points
What is the elasticity between midpoint and upper extreme point of a straight line continuous demand curve?
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Question 4 of 30
4. Question
1 points
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?
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Question 5 of 30
5. Question
1 points
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 ———-
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Question 6 of 30
6. Question
1 points
Which statement is true about the law of demand?
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Question 7 of 30
7. Question
1 points
Which of the following is not a determinant of demand ?
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Question 8 of 30
8. Question
1 points
A demand curve parallel to the Y-axis implies————
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Question 9 of 30
9. Question
1 points
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————-
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Question 10 of 30
10. Question
1 points
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 ————-
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Question 11 of 30
11. Question
1 points
Straight line demanded curve at the point of meeting the X-axis will indicate elasticity coefficient equal to ————-
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Question 12 of 30
12. Question
1 points
Change in the quantity demanded in response to changes in the price of same commodity is called ————–
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Question 13 of 30
13. Question
1 points
Other things being equal , a fall in the price of the complementary goodwill cause the ———— of the other to rise.
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Question 14 of 30
14. Question
1 points
A horizontal demand curve parallel to X-axis shows that the elasticity of demand is ————
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Question 15 of 30
15. Question
1 points
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 ————-
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Question 16 of 30
16. Question
1 points
Which of the following is correct about the price elasticity of demand of a commodity ?
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Question 17 of 30
17. Question
1 points
The law of demand shows ———— relationship between price and quality demanded, other things remaining the same.
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Question 18 of 30
18. Question
1 points
According to the Law of demand, there is an inverse relationship between:
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Question 19 of 30
19. Question
1 points
Which of the following would cause the demand curve for automobiles to shift to the left ?
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Question 20 of 30
20. Question
1 points
The price elasticity of demand at the midpoint of a straight line demand curve is —————
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Question 21 of 30
21. Question
1 points
Conspicuous goods are known as ————
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Question 22 of 30
22. Question
1 points
Relative price means ———–
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Question 23 of 30
23. Question
1 points
Calculate income elasticity for a household when the income rises by 10% and the demand for rice raises by 5%.
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Question 24 of 30
24. Question
1 points
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 ————
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Question 25 of 30
25. Question
1 points
In case of Luxury items income elasticity of demand is ————
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Question 26 of 30
26. Question
1 points
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 ————–
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Question 27 of 30
27. Question
1 points
Upon which of the following elements,effective demand does not depend ?
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Question 28 of 30
28. Question
1 points
In the case of an inferior good, the income elasticity of demand is ———–
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Question 29 of 30
29. Question
1 points
Which of the following pairs of goods is an example of substitutes?