CSEET Mock Test – Economics and Business Environment – Demand & Suppy Mcqs 1

CSEET Economics MCQs
CSEET Economics MCQs

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Contraction of demand is the result of

What is the coefficient of price-elasticity of demand when the percentage increase in the quantity of a good demanded is smaller than the percentage fall in its price?

In the case of an inferior goods, the income elasticity of demand is:

If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the goods to

The law of demand is

All of the following are determinants of demand except

A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is:

A typical demand curve cannot be:

When price decreases, quantity demanded increase it is known as a. b.

Which of the following is not the exception to the law of demand

When price elasticity is found between two points is known as

Luxury goods are price ___________ while necessities are price ___________

The elasticity of substitution between two perfect substitutes is __________

Slope of a demand curve is determined by:

Demand for car decreases due to increase in price. It implies that car and petrol are

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