A. Consumer tastes
B. Number of buyers in market
C. Incomes
D. All of these
Related Mcqs:
- A supply curve shifts because of change in_____________________?
A. The price of the related products
B. Technology
C. Both a and b
D. None of these - The responsiveness of the quantity demand of a commodity to change in the consumer’s income, measured by the proportionate change in quantity divided by the proportionate change in income ?
A. Elasticity of demand
B. Import substitution
C. Income elasticity of demand
D. None - The intersection of the supply curve and demand curve indicates ?
A. Market equilibrium
B. Market demand
C. Market condition
D. None - The demand schedule or the demand curve of all buyers of a good or service is called____________________?
A. Market demand
B. Total demand
C. Both
D. None - The implicit change in real income resulting from the effects of a change in a commodity’s price on quantity demand?
A. Income effect
B. Substitution effect
C. Labour effect
D. All - An individuals demand curve is down sloping because_____________________?
A. Price and quantity demanded are inversely related
B. P & D are directly related
C. There is no relation bet P & D
D. None - Upward shift of the demand curve is due to_________________?
A. Changing in quantity demanded
B. Increase in demand
C. Decrease in quantity demanded
D. None - Excess utility over price derived by the consumers because of negative sloping demand curve ?
A. Producer surplus
B. Consumer surplus
C. Marginal utility
D. Demand surplus - Increases in the price level resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand ?
A. Demand pull inflation
B. Stagflation
C. Both
D. None - All points on the production possibility curve explain__________________?
A. Allocative efficiency
B. Productive efficiency
C. Less than full use of resources
D. Unattainable levels of output
