Please wait...

Consumer Behaviour and Demand Test - 9
Result
Consumer Behaviour and Demand Test - 9

  • /

    Score

  • -

    Rank
Time Taken: -
  • Question 1/10
    1 / -0.25

     

    If two negatively sloped demand curves intersect then

     

    Solutions

     

     

    flatter the curve more the elasticity,steeper the curve less the elasticity.

     

     

  • Question 2/10
    1 / -0.25

     

    If two negatively sloped demand curves intersect then elasticity of demand at the point of intersection will be

     

    Solutions

     

     

    No. elasticity of demand will me more on a flatter curve than on the steeper curve because since price elasticity of demand = %change in /% change in price and hence in the flatter demand curve the change in price will be lesser which will mean that the change in Quantity will be divided by a smaller number.

     

     

  • Question 3/10
    1 / -0.25

     

    Which of the following will have inelastic demand?

     

    Solutions

     

     

    Demand for medicine is in-elastic as it falls in category of  a necessity good.

     

     

  • Question 4/10
    1 / -0.25

     

    The value of elasticity in case of a horizontal line will be

     

    Solutions

     

     

    price elasticity of demand = % change in quantity demanded / % change in price,

    which tends to infinity in case of horizontal demand curve

     

     

  • Question 5/10
    1 / -0.25

     

    Which of the following will have elastic demand?

     

    Solutions

     

     

    It is only option of non-necessity/mandatory good among given options.

     

     

  • Question 6/10
    1 / -0.25

     

    What is the relationship between slope and the demand curve?

     

    Solutions

     

     

    The slope of a demand curve is ∆P/∆Q. If the price falls, we write -∆P/∆Q or if price rises demand falls, we write ∆P/∆Q.

     

     

  • Question 7/10
    1 / -0.25

     

    A rise in the income of the consumer leads to a fall in the demand for commodity ‘x ’. What type of good is commodity ‘x ’?

     

    Solutions

     

     

    An  inferior good  is a type of  good  for which demand declines as the level of income  increases.

     

     

  • Question 8/10
    1 / -0.25

     

    The substitute goods of a normal good are those that can be used

     

    Solutions

     

     

    Substitute goods  are those goods that can satisfy the same necessity, they can be used for the same end.

     

     

  • Question 9/10
    1 / -0.25

     

    One factor that causes a leftward shift of the demand curve out of the following is

     

    Solutions

     

     

    A  leftward shift  in the  demand curve  indicates a decrease in  demand  because consumers are purchasing fewer products for the same price.

     

     

  • Question 10/10
    1 / -0.25

     

    One factor that causes a movement along the demand curve of a commodity

     

    Solutions

     

     

    Movements along  a  demand curve  happen only when the price of the good changes.

     

     

User Profile
-

Correct (-)

Wrong (-)

Skipped (-)

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Click on Allow to receive notifications
×
Open Now