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15 Questions MCQ Test | Free Test

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Free Test - Question 1

What is an Engels curve????

Free Test - Question 2

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

Free Test - Question 3

Demand for a commodity refers to:

Free Test - Question 4
Expansion & contraction of Demand curve occurs due to
Free Test - Question 5
The demand of which type of goods do not decrease with increase in its price
Free Test - 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)

Free Test - Question 7
In case of an inferior good, the income elasticity of demand is:
Free Test - 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:
Free Test - Question 9
What is the value of elasticity of demand if the demand for the good is perfectly elastic?
Free Test - Question 10
Demand of a commodity depends upon:
Free Test - 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:
Free Test - Question 12
In case of Inferior goods like bajra, a fall in its price tends to:
Free Test - Question 13
Giffen paradox is an exception of
Free Test - Question 14
If the price of any complement goods rises:
Free Test - Question 15
Compute income elasticity if demand increases by 5% and income by 1%.
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