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Economics Test ...

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  • Question 1
    5 / -1

    What happens to demand curve when there is a change in other factors except price of goods?

  • Question 2
    5 / -1

    The rise of income in developing countries would lead the demand curve to shift:

  • Question 3
    5 / -1

    If at a price, market supply is greater than market demand, we say that there is ________ in the market at that price.

  • Question 4
    5 / -1

    The demand curve _____.

  • Question 5
    5 / -1

    Kinked demand curve hypothesis was put forward by

  • Question 6
    5 / -1

    A horizontal demand curve is -

  • Question 7
    5 / -1

    As we move down along a demand curve with constant slope, the price elasticity of demand:

  • Question 8
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    Demand curve is the graphical representation of _________.

  • Question 9
    5 / -1

    When the price of substitute products rises, the demand curve ___________.

  • Question 10
    5 / -1

    What effect will a decrease in demand and an increase in supply have on equilibrium price?

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