Advertisements
Advertisements
State whether the following statement is TRUE and FALSE.
Perfectly inelastic demand curve is parallel to the X axis.
Concept: undefined >> undefined
State whether the following statement is TRUE and FALSE.
Total outlay is price multiplied by quantity.
Concept: undefined >> undefined
Advertisements
State whether the following statement is TRUE and FALSE.
Unitary Elastic Demand rarely occurs in practice.
Concept: undefined >> undefined
State whether the following statement is TRUE and FALSE.
Concept of Elasticity of Demand is useful for finance minister.
Concept: undefined >> undefined
Define the following concept:
Cross Elasticity of Demand
Concept: undefined >> undefined
Define or explain the following concept:
Unitary Elastic Demand
Concept: undefined >> undefined
Define or explain the following concept:
Income Elasticity of Demand
Concept: undefined >> undefined
Give reason or explain the following statement:
Demand for necessaries is inelastic.
Concept: undefined >> undefined
Give reason or explain the following statement:
Demand for habitual goods is inelastic.
Concept: undefined >> undefined
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
Concept: undefined >> undefined
Give reason or explain the following statement:
Demand for commodity having multiple uses has elastic demand.
Concept: undefined >> undefined
Give reason or explain the following statement:
Demand for goods having snob appeal has elastic demand.
Concept: undefined >> undefined
Define 'or' explain the following concept.
Fixed capital
Concept: undefined >> undefined
Write short answer for the following question :
Total outlay method of measuring price elasticity of demand.
Concept: undefined >> undefined
MU of the commodity becomes negative when TU of a commodity is ______.
Concept: undefined >> undefined
Choose the correct option:
Statement indicating consumer equilibrium:
a) MU is greater than price
b) MU is equal to price
c) MU is less than price
d) Price is less than one
Concept: undefined >> undefined
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
Concept: undefined >> undefined
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
Concept: undefined >> undefined
Non-tax sources of revenue:
- Direct and Indirect Tax
- Direct Tax and Fees
- Fees
- Special Levy
Concept: undefined >> undefined
Identify the right group of pairs from the given options.
| Group A | Group B |
| i) Direct tax | a) Non-tax revenue |
| ii) Indirect tax | b) Inflation |
| iii) Fees and Fines | c) GST |
| iv) Surplus budget | d) Personal income tax |
Concept: undefined >> undefined
