(A) Real income
(B) Money income
(C) Relative price of other goods
(D) Marginal utility
Tag: Economics Mcqs With Answers
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
How is law of demand expressed functionally?
(A) Dx = f (Px ), ceteris paribus
(B) Dx = f (Pz ), ceteris paribus
(C) Dx = f (Y ), ceteris paribus
(D) Dx = f (T ), ceteris paribus
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