Time Left:

Theory of Demand and Supply

Attempt now to get your rank among top students!

Marks: 30

Q.   1

The responsiveness of a good's demand to changes in the Firm's spending on advertising is called — 

Q.   2

Advertisement Elasticity is the percentage change in

Q.   3

Advertising Elasticity is generally

Q.   4

Supply can be referred as —

Q.   5

The Supply of a product refers to — 

Q.   6

Supply refers to ________

Q.   7

Supply refers to the quantity of goods or services, that are willing and able to offer to the market at various prices during a period of time.

Q.   8

Supply Quantity is the same as Sales Quantity. This statement is —

Q.   9

Supply refers to what Firms offer for sale, and not necessarily to what they succeed in selling. This statement is — 

Q.   10

 To constitute Supply, the Producing Firms must have

Q.   11

 Stock refers to quantity _ into the market,
     whereas Supply refers to quantity __ into the market. 

Q.   12

The meaning of time element in economics is

Q.   13

Which of the following factors is not a determinant of Supply?

Q.   14

When lower quantities are supplied, due to changes in factors other than price, it is called

Q.   15

Generally, higher the prices of products, higher the

Q.   16

Generally, Supply of a Product X will be ___________________________________ if the prices of goods other than X decrease.

Q.   17

Other things being equal, if the Cost of Production of a commodity is higher, quantities thereof will be supplied to the market. 

Q.   18

Other things being equal, if the Cost of Production of a commodity is lower, quantities thereof will be supplied to the market

Q.   19

 Inventions and Innovations lead to —

Q.   20

Other things being equal, the supply quantity of a product is related to price of related goods.

Q.   21

 Elasticity of Supply refers to the degree of responsiveness of supply of a good to changes in its

Q.   22

Which of the following has the lowest Price Elasticity of Supply?

Q.   23

In which of the following type of product, is the Elasticity of Supply lowest?

Q.   24

A Horizontal Supply Curve parallel to the quantity axis implies that the Elasticity of Supply is —

Q.   25

In the table below, what will be Equilibrium Price?

   Price(in   Demand

Supply

        1        1000

400

        2        900

500

3

800

600

        4        700

700

        5        600

800

        6        500      900
        7        400

1000

        8        300

1100

Q.   26

. ................. refers to the amount of money which a firm realizes by selling certain units of a commodity .

Q.   27

Under which of the following conditions, industry is said to have attained long run equilibrium?

Q.   28

. In which of the following market situation are the firms mutually interdependent in pricing output decisions?

Q.   29

A monopolist may determine either ............ or ............ , but he cannot determine ............

Q.   30

 When all the firms are functioning with normal profit, ................. is said to be in equilibrium.

Chat on WhatsApp