Question Text
Question 1 :
Which one of the following is true in case of normal goods?
Question 2 :
When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is __________.
Question 4 :
The second glass of lemonade gives lesser satisfaction to a thirsty boy. This is a clear case of ____________.
Question 6 :
____________ refers to a desire backed by the ability to pay and willingness to buy that commodity.<br>
Question 8 :
A market demand curve for shoes indicates, how many pairs of shoes _____.
Question 9 :
The law of diminishing marginal utility states that as the stock of a commodity increases with the consumer, its ________ to the consumer decreases.
Question 11 :
A fall in the price of a commodity leads to _______.
Question 13 :
Income elasticity of demand will be zero when given change in income brings ______________.
Question 14 :
Work of Professionals like Doctors, Accountants, etc. can be considered under ________________.
Question 16 :
Elasticity of demand is equal to unity while marginal revenue is _______.
Question 17 :
Alcohol has no utility to a drunkard because it is harmful to him.
Question 19 :
If the price of Computer increase by $10\%$ and supply increases by $25\%$. The elasticity of supply is?