Money suppleness out of tomatoes try 0

Money suppleness out of tomatoes try 0

133. twenty five, it indicates tomatoes is actually: (a) Second-rate items. (b) Deluxe goods. (c) Normal items. (d) Can not say. Answer: (c) Normal items.

You will find a romance ranging from cost of an item therefore the interest in its subservient services and products (anything else kept a comparable)

134. 6. Precisely what does which suggest: (a) Private college or university degree are a luxurious. (b) Personal college or university degree was a requirement. (c) Personal university knowledge was a smaller item. (d) We would like to have more individual universities. Answer: (a) Individual college or university education are a luxurious.

Guess the money elasticity out-of degree privately school during the India is 1

135. Guess carrots keeps (-).0.cuatro since the earnings suppleness. We are able to say from the study once the: (a) Carrots try inferior goods. (b) Potatoes was advanced items. (c) Potatoes was necessities. (d) There is certainly an aspire to increase the earnings from customers very that they’ll purchase carrots. Answer: (a) Potatoes is second-rate products.

136. Should your earnings elasticity are below one to, it suggests that the goods is both apparently the very least essential in the latest eyes of individual or it’s a ________. (a) Inferior (b) Deluxe (c) Needs (d) Nothing of these Respond to: (c) Criteria

137. The money elasticity regarding demand away from commodity “Buttons” are ________. (a) More than that (b) Lest than one to (c) No (d) You to definitely Respond to: (c) Zero

138. ‘Bajra’ is actually a smaller commod¬ity regarding eyes of domestic. Its earnings flexibility off demand could be ________. (a) Over step one (b) Equivalent to step 1 (c) Lower than 1, however, higher than 0 (d) Bad Answer: (d) Negative

139. Cross suppleness out-of request refers to the degrees of item hence would-be needed in reaction to help you ________, remaining anything leftover a comparable. (a) Income out-of consumer (b) Cost of exact same product (c) Price of Associated product (d) One another (b) L(C) Answer: (c) Price of Related item

140. In case of replace products, the new cross demand curve slopes ________. (a) Right up (b) Downwards (c) Rounded (d) Parabolic Answer: (a) Upwards

143. The latest get across suppleness anywhere between Money and you can Dvds is actually: (a) Confident. (b) Negative. (c) Zero. (d) You to. Answer: (c) Zero.

144. The fresh cross flexibility anywhere between personal computers and you can software’s is: (a) Positive. (b) Negative. (c) no. (d) One. Answer: (b) Bad.

145. In the event the a couple of products are best replacements for every almost every other, the brand new cross elasticity between them try ________. (a) That (b) One or more (c) Less than one to (d) Unlimited Address: (d) Infinite

145A. If the numerical value of mix elasticity between a couple of services and products are extremely high, it means: (a) Items are good comple-ments and that have to be utilized along with her. (b) The products are fantastic alternatives and can be used without difficulty in place of each other. (c) There clearly was a leading amount of substi-tutability between the two merchandise. (d) Items is actually simple there-fore can not be regarded as alternatives. Answer: (c) There can be a leading level of substi-tutability between the two goods.

146. In case your products are substituted (particularly tea and you will coffee), this new mix suppleness among them is actually ________. (a) Positive (b) Bad (c) No (d) Infinity Address: (a) Self-confident

146A. In case your numbers required from lamb develops by 5% if price of poultry develops because of the 20%, brand new get across¬rates elasticity away from demand ranging from lamb and you may poultry try: (a) – 0.twenty five (b) 0.twenty five (c) – 4 (d) 4 Address: (b) 0.twenty-five

147. In case of Complementary Goods, an increase in the expense of one results in an autumn about number recommended of the almost every other. The latest mix suppleness away from consult anywhere between such will be ________. (a) Confident (b) Negative (c) No (d) Infinity Answer: (b) Bad

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