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Demand and Supply

Q.21) The law of Demand is based on-

(A) Manufacturer's preference

(B) Seller's returns

(C) Constant returns

(D) Increasing returns

Q.22) A supply function expresses the relationship between-

(A) Price and output

(B) Price and selling cost

(C) Price and Consumption

(D) Price and Consumption

Q.23) Any factor of production can earn economicrent , when its supply will be-

(A) Perfectly elastic

(B) Relatively elastic

(C) Perfectly inelastic

(D) All of the above

Q.24) The demand of a factor of production is-

(A) Direct

(B) Derived

(C) Neutral

(D) Discretion of the producer

Q.25) A unit price elastic demand curve will touch-

(A) Both price and quantity axis

(B) Neither price axis, nor quantity axis

(C) Only price axis

(D) Only quantity axis

Q.26) Other things being equal, a decrease in quantity demanded of a commodity can be caused by-

(A) A rise in the income of the commodity

(B) A rise in the income of the consumer

(C) A fall in the price of a commodity

(D) A fall in the income of the consumer

Q.27) A demand curve will not shift-

(A) When only income changes

(B) When only prices of substitute products changes

(C) When there is a change in advertisement expenditure

(D) When only price of commodity

Q.28) Perfectly inelastic demand is equal to-

(A) One

(B) Infinite

(C) Zero

(D) Greater than one

Q.29) A demand curve, which is parallel to the horizontal axis, showing quantity, has the price elasticity equal to-

(A) Zero

(B) One

(C) Less than one

(D) Infinity

Q.30) The demand curve facing a perfectly competitive firm is-

(A) Downward sloping

(B) Perfectly inelastic

(C) Aconcave curve

(D) Perfect elastic

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