A. Say’s law
B. Keynes theory of supply
C. Law of supply
D. None
Related Mcqs:
- 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 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 - A legally determined price above the equilibrium price is__________________?
A. Floor price
B. Ceiling price
C. Equilibrium price
D. None - 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 - A particular set of institutional arrangement and a coordinating mechanism is___________________?
A. Economic system
B. Fascism
C. Mixed system
D. None - A good used together with another good is___________________?
A. Superior good
B. Normal good
C. Complementary good
D. None - Change in quantity demanded is______________________?
A. Upward movement or shift of entire cure.
B. Shift of the demand curve to left side
C. Movement from one point to the other on the same demand curve
D. None - Tax levied on production of specific product on quantity of product purchased ?
A. Sales tax
B. Excise tax
C. Income tax
D. All - Any resource whose quantity can not be changed by a firm in the short run_______________?
A. Fixed resource
B. Variable resource
C. Available resource
D. Economic resource - Any system that features one price for sellers and another for buyers ?
A. Dual price system
B. Floor pricing
C. Ceiling pricing
D. None
