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15 Questions MCQ Test | Free Test


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This mock test of Free Test for helps you for every entrance exam. This contains 15 Multiple Choice Questions for Free Test (mcq) to study with solutions a complete question bank. The solved questions answers in this Free Test quiz give you a good mix of easy questions and tough questions. students definitely take this Free Test exercise for a better result in the exam. You can find other Free Test extra questions, long questions & short questions for on EduRev as well by searching above.
QUESTION: 1

What is an Engels curve????

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QUESTION: 2

What is income elasticity of demand, when income changes by 20% and demand changes by 40%

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QUESTION: 3

Demand for a commodity refers to:

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QUESTION: 4
Expansion & contraction of Demand curve occurs due to
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QUESTION: 5
The demand of which type of goods do not decrease with increase in its price
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QUESTION: 6

Suppose the price of movies seen at a theatre rises form Rs. 120 per person to Rs.200 per person. The theatre manager observed that the rise in prices has lead to a fall in attendance at a given movie from 300 persons to 200 persons. What is the price elasticity of demand for the movie? (arc elasticity)

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QUESTION: 7
In case of an inferior good, the income elasticity of demand is:
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QUESTION: 8
In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the mid-point of the line would be:
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QUESTION: 9
What is the value of elasticity of demand if the demand for the good is perfectly elastic?
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QUESTION: 10
Demand of a commodity depends upon:
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QUESTION: 11
The price of hot-dogs increases by 22% and the quantity demanded falls by 25% this indicates that demand for hot dogs is:
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QUESTION: 12
In case of Inferior goods like bajra, a fall in its price tends to:
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QUESTION: 13
Giffen paradox is an exception of
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QUESTION: 14
If the price of any complement goods rises:
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QUESTION: 15
Compute income elasticity if demand increases by 5% and income by 1%.
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