Engineering :: Business Management
|
|
|
|
|
91. |
Market demand for any good is a function of the |
A. |
Price per unit of the good |
B. |
Price per unit of other goods |
C. |
Incomes of consumers |
D. |
Tastes of consumers |
E. |
All of the above |
|
|
Answer: Option E
Explanation:
|
92. |
If two commodities are jointly demanded they are |
A. |
Inferior goods |
B. |
Compliments |
C. |
Necessities |
D. |
Substitutes |
E. |
Multiple goods |
|
|
Answer: Option B
Explanation:
|
93. |
Which is not the pair of compliment goods? |
A. |
Tea and mild |
B. |
Sweets and sugars |
C. |
Whiskey and soda |
D. |
Concrete and steel |
E. |
Mustard oil and coconut oil |
|
|
Answer: Option E
Explanation:
|
94. |
Which of the following creates time utility? |
A. |
Bank cashier |
B. |
Carpenter |
C. |
Farmer |
D. |
Trader |
E. |
Clerk |
|
|
Answer: Option C
Explanation:
|
95. |
If the price of tea rises and that of coffee falls |
A. |
More tea will be bought |
B. |
More coffee will be bought |
C. |
More sugar will be bought |
D. |
More tea and less coffee will be bought |
E. |
Demand will depend upon the price difference |
|
|
Answer: Option B
Explanation:
|
96. |
Which of the following groups of economists find consumers sovereignty undesirable? |
A. |
Capitalists |
B. |
Socialists |
C. |
Mercantilists |
D. |
Positivists |
E. |
All of the above |
|
|
Answer: Option B
Explanation:
|
97. |
If you want to use a red pen but mass production of only blue pens is undertaken, your inability to exercise your sovereignty is because of |
A. |
Limited income |
B. |
Standardized production |
C. |
Weather conditions |
D. |
State control |
E. |
Poor demand |
|
|
Answer: Option B
Explanation:
|
98. |
Which of the following depicts joint demand? |
A. |
Magazine and newspaper |
B. |
Coffee and tea |
C. |
Lipstick and nail polish |
D. |
Paper and book |
E. |
Tooth paste and brush |
|
|
Answer: Option E
Explanation:
|
99. |
Demand for electricity is elastic because |
A. |
It is very expensive |
B. |
It has number of close substitutes |
C. |
It has number of alternatives uses |
D. |
All of the above |
E. |
None of the above |
|
|
Answer: Option C
Explanation:
|
100. |
Price elasticity of demand is best defined as |
A. |
The change in the tastes of consumers at different prices |
B. |
The rate of response of demand to a change in supply |
C. |
The change in costs when output is increased by one unit |
D. |
The rate of response of demand to a change in price |
E. |
Being depended on whether the goods are a lusury or not |
|
|
Answer: Option D
Explanation:
|
Read more:
|
|