( Best 200+ ) Basics of Economics MCQ
Basics of Economics MCQ
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Basics of Economics MCQ
51. In drawing an individual demand curve for a commodity, all but which
of the following are kept constant:
52. When an individual’s income rises, when everything else remains the
same, his demand for normal goods:
53. When an individual’s income falls, when everything else remains the
same, his demand for inferior goods:
54. When the price of the substitute commodity of X falls, the demand for X:
55. If the quantity demanded remains unchanged as the price of the
commodity falls, the coefficient of price elasticity of demand is:
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56. If the income elasticity of demand is greater than one, then the
commodity is:
57. Which of the following is an exception to the law of demand?
58. The law of diminishing marginal utility was popularized by:
59. If the income elasticity of demand for a commodity is found to be 0.4,
then the commodity concerned is:
60. Cross elasticity of demand in the case of substitutes:
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