11th Principles of Economics MCQS
The cause of shifting of supply curve is
change in demand
change in serving
Other factors
Change in price
If demand does not change, despite a fall in price, is called
Contraction of demand
Rise of demand
Fall of demand
Extension of demand
Usually market price is ____________ normal price
More than
None of these
Less than
Equal to
Elasticity of demand for luxuries is
More than unity
Equal to unity
Less than unity
Zero
If demand decreases by 5% due to 10% increase in Price, then elasticity of demand is
Equal to unity
Less than unity
More than unity
Zero
Demand for good like Television and VCR is
Less elastic
Infinitely elastic
Perfectly inelastic
More elastic
If demand decreases by 10% due to 10% increase in Price, then elasticity of demand is
Less than unity
Equal to unity
Zero
More than unity
Cause of movement along the supply curve is
Other factors
Change in tax
Change in income
Change in price
If demand for a commodity changes due to change in price of its substitute, it is called
Cross elasticity
Price elasticity
Point elasticity
Arc elasticity
If there is big change in Price and demand, it is called
Income elasticity
Point elasticity
Cross elasticity
Arc elasticity
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