CSEET Mock Test – Multiple Choice Questions – Economics – Demand and Suppy Part 2 (15 MCQs)

CSEET Economics MCQs
CSEET Economics MCQs

Welcome to CSEET Mock Test – Multiple Choice Questions – Demand & Suppy Mcqs 2

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Demand for car decreases due to increase in price. It implies that car and petrol are
Effect of change in the price of a product on the consumer’s purchasing power is

________ goods are those goods which are consumed together simultaneously.

Larger the size of the population of a country or region, ________ is the demand for commodities

Demand can be defined as:

Movement along the demand curve is due to the following reason:

If two goods are perfect substitute for each other, cross elasticity is _________

Demand remains constant, decrease in supply means ________ in equilibrium price

A vertical supply curve parallel to the Y-axis implies that the elasticity of supply is

Total expenditure method of measuring elasticity was formulated by

For luxuries, the elasticity is _________________

Supply Curve is _________ sloped, in direction from

Which one of these is not an exception to the law of supply?

In __________, small change in price causes a greater change in quantity demanded

If the price for laptops increases, and relatively the demand for tablets increases then, laptops and tablets are

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