Class XII

The factor that causes a change in demand is
  1. The factor that causes a change in demand is
  2. An improvement in technology
  3. Price of the given good
  4. Price of the substitute good
A fall in the price of the good for a seller leads to
  1. Movement of the demand and supply curves of the given good
  2. Shift of the demand and supply curves of the given good
  3. Shift of the demand curve of the given good only
  4. Contraction of the supply curve of the given good only
The equilibrium price will not change for a good if the demand is perfectly elastic. It is
  1. False
  2. Can’t say
  3. May be
  4. 1
Market for a good is in equilibrium. A decrease in price for the good will
  1. Move the supply curve
  2. Shift the demand curve
  3. None of these
  4. Shift the supply curve
The equilibrium price is determined by
  1. Demand and supply
  2. The Government
  3. Demand only
  4. Supply only
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