Which of the following factors or principle is/are responsible for the operation of the law of demand, or for the downward slope of demand curves?
X. The law of diminishing marginal utility
Y. The law of equi-marginal utility
Z. Increased real income
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Question 2 of 25
2. Question
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Category: Business Economics
Which of the following factors or principle is/are responsible for the operation of the law of demand, or for the downward slope of demand curves?
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Question 3 of 25
3. Question
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Category: Business Economics
If the demand changes due to change in price, it is called-
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Question 4 of 25
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Category: Business Economics
If the demand changes due to change in other things, it is called as-
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Question 5 of 25
5. Question
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Category: Business Economics
When a consumer moves from one point to another on the same demand curve it is called as-
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Question 6 of 25
6. Question
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Category: Business Economics
When the entire demand curve shifts its position it is called as-
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Question 7 of 25
7. Question
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Category: Business Economics
If due to increase in ‘price’, quantity demanded goes downward it is known as____
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Question 8 of 25
8. Question
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Category: Business Economics
If due to increase in ‘price’, quantity demanded goes upward it is known as____
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Question 9 of 25
9. Question
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Category: Business Economics
If due to change in ‘other things’, quantity demanded goes upward it is known as-
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Question 10 of 25
10. Question
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Category: Business Economics
If due to change in ‘other things’, quantity demanded goes downward it is known as-
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Question 11 of 25
11. Question
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Category: Business Economics
Contraction of demand is the result of:____
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Question 12 of 25
12. Question
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Category: Business Economics
A movement along the demand curve for soft drinks is best described as:_____
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Question 13 of 25
13. Question
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Category: Business Economics
There is no exception to law of demand?
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Question 14 of 25
14. Question
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Category: Business Economics
Which of the following is/are exception to the law of demand?
I. Conspicuous necessities
II. Giffen goods
III. Change in fashion
IV. Conspicuous consumption
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Question 15 of 25
15. Question
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Category: Business Economics
If, as people’s income increases, the quantity demanded of a good decreases, the good is called ____
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Question 16 of 25
16. Question
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Category: Business Economics
In the case of a Giffen good, the demand curve will be: ____
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Question 17 of 25
17. Question
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Category: Business Economics
The price of tomatoes increases and people buy tomato puree. You infer that tomato puree and tomatoes are _____
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Question 18 of 25
18. Question
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Category: Business Economics
Conspicuous goods are also known as ____
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Question 19 of 25
19. Question
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Category: Business Economics
Goods which are consumed by weaker section of society are known as –
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Question 20 of 25
20. Question
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Category: Business Economics
With an increase in the price of diamond, its demand also increases. This is because it is a :____
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Question 21 of 25
21. Question
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Category: Business Economics
Goods which are used by rich people to show their status are known as-
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Question 22 of 25
22. Question
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Category: Business Economics
Some special varieties of inferior goods are termed as-
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Question 23 of 25
23. Question
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Category: Business Economics
Which of the following is Giffen goods?
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Question 24 of 25
24. Question
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Category: Business Economics
Which of the following is not Giffen goods?
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Question 25 of 25
25. Question
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Category: Business Economics
An increase in consumer income will increase demand for a ____ but decrease demand for a _____
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