Self Studies
Self Studies
Self Studies
Self Studies

Consumer Behaviour and Demand Test - 9

Result Self Studies

Consumer Behaviour and Demand Test - 9
  • Score

    -

    out of -
  • Rank

    -

    out of -
TIME Taken - -
Self Studies

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Self Studies Self Studies
Weekly Quiz Competition
  • Question 1
    1 / -0.25

     

    If two negatively sloped demand curves intersect then

     

    Solution

     

     

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

     

     

  • Question 2
    1 / -0.25

     

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

     

    Solution

     

     

    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
    1 / -0.25

     

    Which of the following will have inelastic demand?

     

    Solution

     

     

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

     

     

  • Question 4
    1 / -0.25

     

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

     

    Solution

     

     

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

    which tends to infinity in case of horizontal demand curve

     

     

  • Question 5
    1 / -0.25

     

    Which of the following will have elastic demand?

     

    Solution

     

     

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

     

     

  • Question 6
    1 / -0.25

     

    What is the relationship between slope and the demand curve?

     

    Solution

     

     

    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
    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 ’?

     

    Solution

     

     

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

     

     

  • Question 8
    1 / -0.25

     

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

     

    Solution

     

     

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

     

     

  • Question 9
    1 / -0.25

     

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

     

    Solution

     

     

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

     

     

  • Question 10
    1 / -0.25

     

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

     

    Solution

     

     

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

     

     

Self Studies
User
Question Analysis

  • Correct -

  • Wrong -

  • Skipped -

My Perfomance
  • Score

    -

    out of -
  • Rank

    -

    out of -
Re-Attempt Weekly Quiz Competition
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now