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Demand and Supply

Q.1) Equilibrium is a condition that can-

(A) Never changes

(B) Changes only if some outside factor changes

(C) Changes only if some outside factor changes

(D) Changes only if government policies changes

Q.2) A firm is in equilibrium when its-

(A) Marginal cost equals the marginal revenue

(B) Total cost is maximum

(C) Total revenue is maximum

(D) Average revenue and marginal revenue are equal

Q.3) Which of the following does not determine supply of labour?

(A) Size and age-structure of population

(B) Nature of work

(C) Marginal productivity of labour

(D) Work-leisure ratio

Q.4) Extension or construction of quantity demanded of a commodity is a result of a change in the-

(A) Unit price of the commodity

(B) Income of the consumer

(C) Tastes of the consumer

(D) Climate of the region

Q.5) Cross elasticity of demand between petrol and car is-

(A) Infinite

(B) Positive

(C) Zero

(D) Negaative

Q.6) 'Law of demand' implies that when there is excess demand for a commodity, then-

(A) Price of the commodity falls

(B) Price of the commodity remains same

(C) Price of the commodity rises

(D) Puantity demanded of the commodity falls

Q.7) The demand curve shows that price and quantity demand are-

(A) Directly related only

(B) Directly proportional and also directly related

(C) Inversely proportional and also inversely related

(D) Inversaly related only

Q.8) Economic rent does not arise when the supply of a factor unit is-

(A) Perfectly inelastic

(B) Perfectly elastic

(C) Relatively elastic

(D) Relatively inelastic

Q.9) A horizontal demand curve is-

(A) Relatively elastic

(B) Perfectly elastic

(C) Relatively elastic

(D) Relatively inelastic

Q.10) Under increasing returns the supply curve is-

(A) positiviely sloped from left to right

(B) negitively sloped from left to right

(C) parallel to the quantity axis

(D) parallel to the price axis

ਜੇਕਰ ਤੁਸੀ ਕਿਸੇ ਵੀ ਸਰਕਾਰੀ ਨੌਕਰੀ ਬਾਰੇ ਜਾਣਕਾਰੀ ਲੈਣਾ ਚਾਹੁੰਦੇ ਹੋ ਤਾ ਉੱਤੇ ਦਿੱਤੇ ਕੰਮੈਟ ਬਾਕਸ ਵਿੱਚ ਕੰਮੈਟ ਕਰ ਸਕਦੇ ਹੋ ਧੰਨਵਾਦ ਅਰਨ ਮਨੀ ਜੋਬਜ ਟੀਮ