(A) Conspicuous goods
(B) Expectation of price rise
(C) Emergency
(D) All of the above
Category: Economics Mcqs
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Factor which affects market demand but not individual demand can be:
(A) Distribution of income
(B) Number of consumers in the market
(C) Age and sex composition of population
(D) All of the above
Veblan good is:
(A) Consumed by very high income group
(B) Good of status
(C) Like diamonds
(D) All of the above
Giffen good is:
(A) One with high negative income elasticity of demand
(B) A inferior good
(C) Consumed by low-paid workers
(D) All of the above
Substitution effect states that as price of a good falls, demand rises because there is rise in?
(A) Real income
(B) Money income
(C) Relative price of other goods
(D) Marginal utility
Income effect states that as price of a good falls, demand rises because there is rise in?
(A) Real income
(B) Money income
(C) Relative price of other goods
(D) Marginal utility
As consumer has more and more units of a goods, its marginal utility to him?
(A) Declines
(B) Rises
(C) Is zero
(D) Is maximum
When demand curve is downward sloping , its slope is?
(A) Negative
(B) Positive
(C) Constant
(D) Zero