Created on

Demand and Supply-Economics

1 / 25

1. For luxuries, the elasticity is .................

2 / 25

2. Which of the following is not the exception to the law of demand?

3 / 25

3. In the long run, monopolist firm earn .................

4 / 25

4. When all the firms are functioning with normal profit, ................. is said to be in equilibrium.

5 / 25

5. Externalities may be:

6 / 25

6. Which is the other name that is given to the average revenue curve?

7 / 25

7. The price of the product depends upon :

8 / 25

8. Goods for which demand rises when the price increases and demand falls when
price decreases.

9 / 25

9. Kinked demand curve under oligopoly is designed to show:

10 / 25

10. Total revenue falls as the price of a good increase if price elasticity of demand is

11 / 25

11. ................. refers to the amount of money which a firm realizes by selling certain units of a commodity .

12 / 25

12. The perfectly competitive firm can sell its output at ................. prices.

13 / 25

13. Discriminating monopolist charges a higher price from the market which has a relatively ................. demand.

14 / 25

14. Monopolist is a .................

15 / 25

15. Which of the following are the barriers to entry?

16 / 25

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

17 / 25

17. If demand decreases and supply remains constant, equilibrium price will .................

18 / 25

18. Excess supply of a commodity will cause ................. in its price.

19 / 25

19. The reason for the kinked demand curve is that:

20 / 25

20. ........... are defined as economic activities that have positive effect on unrelated third party.

21 / 25

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

22 / 25

22. In general speaking, market refers to a place but in economic terms refers to.....................

23 / 25

23. Under which of the following forms of market structure does a firm has no control over the price of its product?

24 / 25

24. Under law of demand

25 / 25

25. What is the shape of the demand curve faced by a firm under perfect competition?

Your score is

The average score is 50%


Top Rated Course

For Any Query, please write to us

Email : uniqueacademy2012@gmail.com

Phone : 8007916622 / 33 | 020-24456622

Address : Shop No 25, Kumar Prestige Point, Near Chinchechi Talim, Behind BSNL Telephone Exchange, Shukrwar Peth, Bajirao Road, Pune.

Subscribe From

There are believers, and there are cynics. The cynic looks at the glass as half empty. The believer just sees room for improvement. The cynic looks at the tides of recession and mourns its ebb. The believer unearths a million new opportunities in the sands. The cynic thinks about changing jobs. The believer thinks about changingthe world. The cynic reads this and sees a professional course. The believer reads this and sees a lifetime of learning. No matter what you believe in, we'd first like to know if you believe yourself. Because, the world has enough cynics already. Believers, this way please... Life and career goals are part of an interconnected and evolving personal journey. At natural points along the path, it is imperative to pause and ask : "What do I want to have happen in the next chapter of my Life" Having chosen the Commerce Stream , you have tread on the right path to a bright career. Equally important is the next step after passing out 12th Std. While the road branches out, the shortest one that leads you to a challenging and lucrative career is the one that AshishParikh's Professional Academy (APPA) guides you through ...

Skip to toolbar