The money suppleness of tomatoes <a href=""></a> try 0

133. twenty-five, it means tomatoes are: (a) Inferior merchandise. (b) Deluxe goods. (c) Typical merchandise. (d) Cannot state. Answer: (c) Regular goods.

There is certainly a love anywhere between cost of an item and demand for the subservient goods (anything kept an equivalent)

134. six. Precisely what does this suggest: (a) Individual university degree try a luxurious. (b) Personal college or university knowledge are a requirement. (c) Personal university knowledge is actually a smaller product. (d) We would like to convey more individual colleges. Answer: (a) Individual college or university knowledge is actually a luxurious.

Imagine the income suppleness from degree privately university from inside the India are step 1

135. Imagine carrots possess (-).0.cuatro as the earnings suppleness. We could state on the investigation just like the: (a) Carrots is substandard products. (b) Potatoes are advanced products. (c) Potatoes is actually fundamentals. (d) There can be a want to enhance the income out-of consumers therefore that they may buy carrots. Answer: (a) Carrots was lower merchandise.

136. If your income suppleness try less than you to definitely, they signifies that items is either apparently the very least essential in the brand new vision off individual or it’s a good ________. (a) Inferior (b) Deluxe (c) Necessity (d) Not one ones Respond to: (c) Requirement

137. The cash elasticity regarding request regarding item “Buttons” is ________. (a) More than that (b) Lest than simply one (c) No (d) You to definitely Address: (c) No

138. ‘Bajra’ is a smaller commod¬ity on attention of your own domestic. Their money elasticity off demand could well be ________. (a) More step one (b) Comparable to 1 (c) Below 1, however, more than 0 (d) Negative Answer: (d) Bad

139. Get across flexibility off demand is the levels of commodity which could well be needed responding to help you ________, staying anything else left a comparable. (a) Income regarding user (b) Price of same commodity (c) Price of Related commodity (d) Each other (b) L(C) Answer: (c) Price of Relevant commodity

140. In case there are replace merchandise, the cross request contour hills ________. (a) Up (b) Downwards (c) Rounded (d) Parabolic Answer: (a) Up

143. Brand new mix flexibility ranging from Money and you may Dvds is: (a) Confident. (b) Negative. (c) No. (d) One. Answer: (c) Zero.

144. The latest mix flexibility anywhere between personal computers and you will software’s is: (a) Confident. (b) Negative. (c) no. (d) One. Answer: (b) Negative.

145. If the a couple products are primary alternatives each other, the latest cross elasticity between the two are ________. (a) One to (b) Multiple (c) Lower than you to (d) Unlimited Respond to: (d) Infinite

145A. When the mathematical worth of get across suppleness ranging from a couple goods is actually extremely high, it means: (a) Items are good comple-ments and therefore need to be made use of together with her. (b) The products are fantastic replacements and certainly will be used with ease unlike one another. (c) There is a leading standard of substi-tutability between them goods. (d) The goods is natural there-fore can’t be regarded as substitutes. Answer: (c) Discover a high standard of substi-tutability between the two merchandise.

146. In case your goods are replaced (for example teas and coffee), brand new mix flexibility among them is actually ________. (a) Confident (b) Negative (c) No (d) Infinity Address: (a) Confident

146A. If for example the wide variety required from mutton expands because of the 5% when the price of chicken increases of the 20%, the cross¬speed flexibility out-of demand between mutton and you can chicken was: (a) – 0.25 (b) 0.twenty five (c) – 4 (d) 4 Address: (b) 0.twenty five

147. In the event of Subservient Items, a boost in the price of one to contributes to an autumn regarding quantity demanded of your own almost every other. Brand new get across suppleness out-of consult between these would be ________. (a) Positive (b) Negative (c) Zero (d) Infinity Respond to: (b) Bad


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