MCQ Economics Class 12 Chapter 2 Theory of Consumer Behavior Microeconomics Advertisement MCQ’s For All Chapters – Microeconomics Class 12th 1. How are goods X and Y when, as a result of rise in the price of good-X , demand for good-Y increases ?Substitute goodsComplementary goods Normal goodsInferior goodsQuestion 1 of 182. In case of normal goods, demand curve shows :A negative slopeA positive slopeZero slopeNone of theseQuestion 2 of 183. Law of demand must fall in case of :Normal goodsGiffen goodsInferior goodsNone of theseQuestion 3 of 184. Inferior goods are those whose income effect is :NegativePositiveZeroNone of theseQuestion 4 of 185. Shift in demand curve means :Fall in demand due to rise in own price of the commodityRise in demand due to fall in own price of the commodityChange in demand due to factors other than the change in own price of the commodityNone of theseQuestion 5 of 186. Which of the following pairs represents substitute goods ?Car and petrolCoffee and teaBread and butterAll of the aboveQuestion 6 of 187. In case of Giffen’s Paradox the slope of demand curve isNegativePositiveParallel to X-axisParallel to Y-axisQuestion 7 of 188. If two goods are complementary then rise in the price of one results inRise in demand for the otherFall in demand for the otherRise in demand for bothNone of theseQuestion 8 of 189. The graphic presentation of a table showing price and demand relationship for a commodity in the market is called :Individual demand curveProducer’s demand curveMarket demand curveConsumer’s demand curveQuestion 9 of 1810. When there is no change in quantity demand in response to any change in price, it is a situation of :Zero price elasticityInfinite price elasticityUnitary price elasticityNone of theseQuestion 10 of 1811. When there is no change in quantity demand in response to any change in price, it is a situation of :Greater than unityLess than unityUnityInfinityQuestion 11 of 1812. Ed> 1 representsElastic demandInelastic demandUnitary elastic demandNone of theseQuestion 12 of 1813. On all points of rectangular hyperbola demand curve, elasticity of demand isEqual to unityZeroGreater than unityLess than unityQuestion 13 of 1814. When demand curve is parallel to X-axis, elasticity of demand isUnityZeroGreater than unityInfinityQuestion 14 of 1815. At the mid-point of as straight line downward sloping demand curve, elasticity of demand (Ed) is21/214Question 15 of 1816. When percentage change in demand is less than percentage change in price, demand is:Perfectly inelasticPerfectly elasticMore than unitary elasticless than unitary elasticQuestion 16 of 1817. When percentage change in demand is more than percentage change in price, demand is:InelasticElasticPerfectly inelasticUnitaryQuestion 17 of 1818. What will be the elasticity of demand (Ed) when demand curve is parallel to Y-axis?UnityZeroLess than unityMore than unityQuestion 18 of 18 Loading...
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