by Shubhrata Shrestha | May 22, 2025
Price Elasticity of Supply Quiz 1. What does a PES value greater than 1 indicate? A. Inelastic supply B. Elastic supply C. Perfectly inelastic supply D. Unitary supply None 2. The formula for price elasticity of supply is: A. % Change in Price รท % Change in Quantity...
by Shubhrata Shrestha | May 21, 2025
Price Elasticity, Income Elasticity and Cross Elasticity of Demands Quiz 1. What does a negative cross elasticity of demand indicate? A) The goods are substitutes B) The goods are unrelated C) The goods are complements D) Demand is inelastic None 2. When PED = 1, what...
by Shubhrata Shrestha | May 21, 2025
Demand and Supply Curves Quiz 1. What is the key characteristic of effective demand? A. It is based on personal preferences only B. It is not influenced by income C. It is backed by the ability and willingness to pay D. It represents theoretical desire None 2. Which...
by Shubhrata Shrestha | May 21, 2025
Classification of Goods and Services Quiz 1. What is the primary cause of under-consumption of merit goods? A. Imperfect information B. High production costs C. Government control D. Inflation None 2. Which of the following is an example of a public good? A. Hospital...
by Shubhrata Shrestha | May 21, 2025
Production Possibility Curves Quiz 1. What does a point inside the PPC represent? A) Economic growth B) Full resource utilization C) Technological advancement D) Inefficient use of resources None 2. A straight-line PPC indicates: A) Constant opportunity cost D)...
