11th Grade > Economics - 1
THE DEMAND CURVE MCQs
Total Questions : 30
| Page 2 of 3 pages
Answer: Option A. -> from lower to upper point on the same demand curve
:
A
In case of contraction of demand, we movefrom lower to upper point on the same demand curve.
:
A
In case of contraction of demand, we movefrom lower to upper point on the same demand curve.
Answer: Option D. -> shifts to the left
:
D
As a result of rise in consumer's income, demand curve for coarse grain (inferior good) shifts to the left.
:
D
As a result of rise in consumer's income, demand curve for coarse grain (inferior good) shifts to the left.
Answer: Option A. -> Rises
:
A
When the price of a goodchange, people will substitute to cheaper alternatives and vice-versa.
:
A
When the price of a goodchange, people will substitute to cheaper alternatives and vice-versa.
Answer: Option A. -> Normal
:
A
The demand for normal goods increases as income increases.
:
A
The demand for normal goods increases as income increases.
Answer: Option C. -> The price of the good under consideration
:
C
In an individual demand curve for a commodity, the price of the good under consideration is not assumed to remain same.
:
C
In an individual demand curve for a commodity, the price of the good under consideration is not assumed to remain same.
Answer: Option D. -> All of these
:
D
All of them are pre-requisites of demand for a product.
:
D
All of them are pre-requisites of demand for a product.
Answer: Option C. -> An increase in price increases revenue
:
C
This means that the percentage change in quantity demanded is less than the percentage change in price; this means a price increase will increase revenue.
:
C
This means that the percentage change in quantity demanded is less than the percentage change in price; this means a price increase will increase revenue.
Answer: Option B. -> inferior goods will increase.
:
B
If consumer income declines, then the demand for inferior goods increases.
:
B
If consumer income declines, then the demand for inferior goods increases.
Answer: Option B. -> Increase in income
:
B
With an increase in income, the demand for normal goods increase.
:
B
With an increase in income, the demand for normal goods increase.
Answer: Option A. -> True
:
A
If an increase in price is expected, consumers will want to stock more of a commodity. Hence, the demand will increase.
:
A
If an increase in price is expected, consumers will want to stock more of a commodity. Hence, the demand will increase.
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