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    Managerial Economics 1 Set 7

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    Ashish
    This document contains 175 multiple choice questions about managerial economics concepts including: - Types of demand shifts and curves - Exceptions to downward sloping demand - Elasticity of demand including perfect, unitary, and relative elasticity - Income elasticity and its relationship to changes in quantity demanded from changes in income - Determinants of demand and examples of different types like composite, derivative, and joint demand

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Managerial Economics 1 Set 7

    Uploaded by

    Ashish
    7 views6 pages
    This document contains 175 multiple choice questions about managerial economics concepts including: - Types of demand shifts and curves - Exceptions to downward sloping demand - Elasticity of demand including perfect, unitary, and relative elasticity - Income elasticity and its relationship to changes in quantity demanded from changes in income - Determinants of demand and examples of different types like composite, derivative, and joint demand

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    managerial-economics-1-set-7 mcqmate.com

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    This document contains 175 multiple choice questions about managerial economics concepts including: - Types of demand shifts and curves - Exceptions to downward sloping demand - Elasticity of demand including perfect, unitary, and relative elasticity - Income elasticity and its relationship to changes in quantity demanded from changes in income - Determinants of demand and examples of different types like composite, derivative, and joint demand

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    7 views6 pages

    Managerial Economics 1 Set 7

    Uploaded by

    Ashish
    This document contains 175 multiple choice questions about managerial economics concepts including: - Types of demand shifts and curves - Exceptions to downward sloping demand - Elasticity of demand including perfect, unitary, and relative elasticity - Income elasticity and its relationship to changes in quantity demanded from changes in income - Determinants of demand and examples of different types like composite, derivative, and joint demand

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    Managerial Economics 1 MCQs [set-7]

    151. In the case of …………… Consumer may moves to higher or lower demand
    curve
    A. Extension of demand
    B. Contraction of demand
    C. Shift in demand
    D. Slopes in demand
    Answer: C

    152. Higher the price of certain luxurious articles, higher will be the demand, this
    concept is called
    A. Giffen effects
    o m
    B. Veblen effects
    . c
    C. Demonstration effects te
    a
    D. Both b & c above
    Answer: B
    q M
    c
    M
    153. Demand for milk, sugar, tea for making tea, is an example of
    A. Composite demand
    B. Derivative demand
    C. Joint demand
    D. Direct demand
    Answer: C

    154. Demand for electricity is an example of


    A. Composite demand
    B. Derivative demand
    C. Joint demand
    D. Direct demand
    Answer: A

    155. Demand for tyres depends on demand of vehicles, the demand for tyres called
    as
    A. Composite demand
    B. Derivative demand
    C. Joint demand
    D. Direct demand
    Answer: B

    156. Determinants of demand includes


    A. Price of a commodity
    B. Nature of commodity
    C. Income and wealth of consumer
    D. All the above
    Answer: D

    157. Exceptional Demand Curve (Perverse demand curve)


    A. Moving upward from left to right
    B. Moving upward from right to left
    C. Moving horizontally
    D. Moving vertically
    Answer: A

    158. Which of the following is not an exception to the downward sloping of demand
    curve
    A. Giffen paradox
    B. Veblen effects
    C. Necessaries
    D. Income effect
    Answer: D

    159. The concept of Elasticity of Demand was introduced by


    A. Alfred Marshall
    B. Lionel Robbins
    C. Adam smith
    D. J M Keynes
    Answer: A

    160. Price Elasticity of demand =


    A. Proportionate change in quantity demanded Proportionate change in price

    View all MCQ's at McqMate.com


    B. Change in Quantity demanded / Quantity demanded Change in Price/price
    C. ( Q2?Q1)/Q1 (P2?P1) /P1
    D. All the above
    Answer: D

    161. When a small change in price leads to infinite change in quantity demanded, it
    is called
    A. Perfectly elastic demand
    B. Perfectly inelastic demand
    C. Relative elastic demand
    D. Relative inelastic demand
    Answer: A

    162. Quantity remains the same whatever the change in price, this is the case of
    A. Perfectly elastic demand
    B. Perfectly inelastic demand
    C. Relative elastic demand
    D. Relative inelastic demand
    Answer: B

    163. In the case of ………… a small change in price leads to very big change in
    quantity demanded
    A. Perfectly elastic demand
    B. Perfectly inelastic demand
    C. Relative elastic demand
    D. Unit elastic demand
    Answer: C

    164. In case of …….. quantity demanded changes less than proportionate to


    changes in price
    A. Perfectly elastic demand
    B. Perfectly inelastic demand
    C. Relative elastic demand
    D. Relative inelastic demand
    Answer: D

    165. When the change in demand is exactly equal to the change in price, it is called

    View all MCQ's at McqMate.com


    A. Perfectly elastic demand
    B. Perfectly inelastic demand
    C. Relative elastic demand
    D. Unitary elastic demand
    Answer: D

    166. Ep = 0 in the case of ???????????elasticity


    A. Perfectly elastic demand
    B. Perfectly inelastic demand
    C. Relative elastic demand
    D. Unitary elastic demand
    Answer: B

    167. Perfect elasticity is known as


    A. Finite elastic
    B. Infinite elastic
    C. Unitary elastic
    D. Zero elastic
    Answer: B

    168. in the case of perfect inelasticity, the demand curve is


    A. Vertical
    B. Horizontal
    C. Flat
    D. Steep
    Answer: A

    169. EP =………….in the case of relatively elastic demand


    A. 1
    B. >1
    C. <1
    D. 0
    Answer: B

    170. EP = ………in case of relatively inelastic demand


    A. 0
    B. Infinite

    View all MCQ's at McqMate.com


    C. 1
    D. <1
    Answer: D

    171. In the case of unitary elastic demand, the shape of demand curve is
    A. Vertical line
    B. Horizontal line
    C. Rectangular hyperbola
    D. Steep
    Answer: C

    172. Unitary elasticity of demand mean


    A. EP =>1
    B. EP =<1
    C. EP = o
    D. EP = 1
    Answer: D

    173. ……… shows the change in quantity demanded as a result of a change in


    consumers’ income
    A. Price elasticity
    B. Cross elasticity
    C. Income elasticity
    D. None of these
    Answer: C

    174. For the commodities like salt, sugar etc.,the income elasticity will be
    A. Zero
    B. Negative
    C. Positive
    D. Unitary
    Answer: A

    175. when income increases, quantity demanded falls, it is


    A. Positive income elasticity
    B. Zero income elasticity
    C. Negative income elasticity
    D. Unitary income elasticity

    View all MCQ's at McqMate.com


    Answer: C

    View all MCQ's at McqMate.com

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