Theory of Demand-Test2

Other things remaining constant, it the price of the inferior goods decreases then what will be the effect?

When price falls from Rs.6. to Rs.4, the demand rises from 10 to 15 units .Calculate price elasticity of demand

Cross elasticity of perfect substitutes is ————

What is Engel’s curve ?

A consumer spends Rs.80 on purchasing a commodity when its price is Rs.1 per unit and spends Rs.96 when the price is Rs.2 per unit. Calculate the price elasticity of demand.

When the price of cylinder rises from Rs.120 to Rs.200, the demand falls from 300 to 200. Calculate price elasticity of demand

If the price is decreased from Rs.10 to Rs.8 of a commodity but the quantity demanded remains the same price elasticity is ————-

Demand for electricity power is elastic because ————–

If income of a person increases y 10% and his demand for goods increases by 30%. Income elasticity will be ————-

In case of luxury goods, the income elasticity of demand will be —————–

In case of straight line demand curve meeting two axis, the price elasticity of demand at the point where the curve meets Y-axis would be ———–

Calculate income elasticity for the household when the income of the household in increases by 10% and the demand for cars sises by 20%.

The commodity whose demand is associated with the name of Sir Robert Giffen?

Certain goods for which quantity demanded decreases when income increases are called ————-

When price falls by 5% and demand increases by 6%, then elasticity of demand is ————–

Cross elasticity of complementary goods is ———-

Demand of i-Pod increases from 950 to 980 and income increases from 9,000 to 9,800. What is income elasticity?

Contraction of demand results due to —————

Bricks for houses is an example of which kind of demand?

Normal goods have ————

In which of the following cases the demand for goods tends to be less elastic?

Which of the following elasticity of demand measures a movement along the demand curve rather than a shift in the curve?

If the price elasticity of demand is zero, the shape of the curve will be ————-

If a 20% fall in price of a commodity brings about a 40% increase in its demand, then the demand for the commodity will be termed as ———–

Expansion and contraction in demand are caused by —————-

A fall in price of normal good leads to —————–

A 10% increase in the price of tea results is an 8% increase in the demand for coffee. Cross elasticity of demand will be ————

When the total expenditure incurred by the consumer’s on a commodity due to a change is its price remains the same, then the elasticity of demand for that commodity will be ———-

What will be the price elasticity if original price is Rs.5. Original quantity is 8 units and changed price is Rs.6, changed quantity is 4 units.

Original price of a commodity is Rs.500 and quantity demanded of that is 20 kgs. If the price rises to Rs.750 and quantity demanded reduces to 15 kgs. The price elasticity of demand will be ——-