RBSE Group twelve Business economics Part 3 Multiple-choice Inquiries
Question step 1. Interest in an item reveals a romance anywhere between quantity demanded and you may its prices. (a) confident (b) unlimited (c) no (d) inverse Answer: (d)
Concern dos. Market request is actually bottom line of private request contour. (a) horizontal (b) straight (c) diagonal (d) None of your own significantly more than Answer: (a)
Concern step 3. Expansion and contraction from consult comes from the brand new : (a) Change in the cost of brand new product in itself (b) Improvement in the cost of other products (c) Improvement in liking and you may tastes of people (d) Improvement in money of consumers Answer: (a)
Question 4. If demand function of a commodity is Dx = 35 – 4 (Px) and its price is ? 5 per unit, the demand would be : (a) 20 (b) 15 (c) 35 (d) 0 Answer: (b)
Matter 5. Into ‘what sort of products, laws from demand cannot pertain? (a) Giffen items (b) Typical merchandise (c) Replace goods (d) Complementary goods Respond to: (a)
RBSE Classification twelve Business economics Part 3 Short Address Style of Concerns
Concern step 1. Exactly what are giffen goods? Answer: Giffen items are people items whoever demand increases if the speed out of product grows, and you can demand’decreases if the cost of product minimizes.