Home

Elasticity (E) expressed by the term, 8 >E>1, is:

A. Perfectly elastic (infinitely elastic)

B. Relatively elastic (greater than one elasticity)

C. Unitary elastic

D. Relatively inelasticity (less than one elasticity)

Correct Answer : B.


Download Objective type questions of Basics of Economics PDF

Visit our PDF store

Get all objective type questions of Basics of Economics MCQ

Also checkout these categories

Banking MCQ Alkyl and Aryl Halides MCQ Chemical Process MCQ Digestive System MCQ Design of Masonry Structures MCQ Adobe Flash MCQ Human reproductive system MCQ General Chemistry MCQ Word Power MCQ Physiological and Anatomy of Plants MCQ Machine Input MI MCQ Photo-Chemistry MCQ

Please do not use chat terms. Example: avoid using "grt" instead of "great".

Submit
Load More..
You can do it
  1. Variable costs refer to:
  2. Which of the following is not a U shaped curve:
  3. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  4. The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…
  5. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  6. Cournot equilibrium is attained where two reaction curves:
  7. According to the principle of substitution?
  8. In long run competitive equilibrium:
  9. According to law of Equi-Marginal Utility when price of commodity falls then we bought:
  10. In Prisoners Dillemma, the players are:
  11. If the demand for good is less elastic and government levied a tax per unit of output, the price per…
  12. The central problem of economics is:
  13. The external economies of scale experienced by a firm include the:
  14. When SAC curve rises, SMC curve lies its:
  15. The name of the system of direct exchange is:
  16. In monopolistic competition, the firm compete on the basis of:
  17. Entry of new firms into a competitive market will shift the supply curve of the:
  18. The basic and essential economic problems in a community are related to choice and:
  19. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  20. Who is the author of Choice of Technique?
  21. At the point where a straight line demand curve meets the quantity axis (x-axis), elasticity of demand…
  22. The production function of homogeneous of degree one (n=1) is also called:
  23. In the case of a giffen good, the income effect:
  24. Marshallian approach is also known as:
  25. Inputs or Factors of production are defined as:
  26. The isoquant approach is:
  27. Under monopoly and imperfect competition MC is:
  28. The concept of industry in monopolistic competition has been replaced by:
  29. In the case of a normal goods, the income effect:
  30. Which is not an essential feature of a socialist economy?