Q. In May 2013, firm was supplying 500kg of sugar of market price of Rs. 30/- per kg. During June 2013, firm's supply of sugar had decreased to 450kg at price Rs. 20/- per kg. These changes show that supply of sugar is: A.           Perfectly ...

Q.         When supply of a commodity increases without change in price it is called: A.           Fall in supply B.            Expansion in supply ...

Q.         If elasticity of supply is greater than one. Supply curve will be: A.           Horizontal      B.            Vertical ...

Q. During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to: A.           Rightward       ...

Q. An increase in demand would cause supply curve to: A.           Shift to the left             B.            Shift to the ...

Q.         Supply curve will shift when: A.           Price falls         B.            Price rises ...

Q.         What does price elasticity of demand measure? A.           Change in price caused by changes in demand      B.            The rate of change of sales ...

Q.         It describes the law of supply: A.           Supply curve B.            Supply schedule C.            Supply ...

Q.          Which one is increasing function of price: A.           Demand            B.            Utility ...

Q.         If price and total revenue move in the same direction, then demand is: A.           Inelastic            B.            ...