(A) Dx = f (Px ), ceteris paribus
(B) Dx = f (Pz ), ceteris paribus
(C) Dx = f (Y ), ceteris paribus
(D) Dx = f (T ), ceteris paribus
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
How will demand for a necessity behave with rise in income?
(A) Initially the demand rises and then becomes constant
(B) Initially the demand shows no change and then it rises
(C) Rises
(D) Falls
What kind of relationship exist between income and demand of a normal good?
(A) Direct
(B) Inverse
(C) No effect
(D) Can be direct or inverse
What kind of relationship exist between income and demand of inferior good?
(A) Inverse
(B) Direct
(C) No effect
(D) Can be direct or inverse
What kind of relationship exist between price of a good and demand of its complementary good?
(A) Direct
(B) Inverse
(C) No effect
(D) Can be direct or inverse
What kind of relationship exist between demand for a good and price of its substitute goods?
(A) Direct
(B) Inverse
(C) No effect
(D) Can be direct or inverse
What does “ceteris paribus” mean?
(A) Other things are simultaneously changing
(B) Other things remaining constant
(C) Price of other goods remaining constant
(D) All are correct
Who gave “ceteris paribus” assumption?
(A) Marshall
(B) Ricardo
(C) Walras
(D) Adam Smith