Home

Income -elasticity of demand will be zero when a given change in income brings about:

A. A less than proportionate change in quantity demanded

B. A more than proportionate change in quantity demanded

C. The same proportionate change in quantity demanded

D. No change in quantity demanded

Correct Answer : D.


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

Matter MCQ Angiosperms (Taxonomy and Classification) MCQ Photo-Chemistry MCQ Surds and Indices MCQ Problems on Numbers MCQ Botany and Human Welfare MCQ Coding MCQ Word Power MCQ Miscellaneous MCQ Wave, Motion, and Sound MCQ Error Detection MCQ Phylum - Aschelminthes MCQ

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

Submit
Load More..
You can do it
  1. If the prices of goods rise then:
  2. The combination of labor and capital where the cost of a given output is minimized is known as:
  3. Price leadership is associated with:
  4. Which of the following is assumed to be constant when a supply curve is drawn:
  5. In case of economic bads, an IC can be :
  6. Total Utility (TU) curve:
  7. In case of monopoly, the slope of MR is:
  8. Contracts made by firms in cooperative games are:
  9. The main contribution of Prof. Lord Keynes is in the field of:
  10. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  11. Which is not a central problem of an economy?
  12. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  13. Supply of a commodity refers to:
  14. A firm under perfect competition has:
  15. If Cobb-Douglas production function is homogeneous of degree less than one (n
  16. In microeconomics, we study:
  17. In monopolistic competition, the firms follow:
  18. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  19. The partial equilibrium model keeps other things:
  20. Substitution effect means a consumer
  21. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  22. At final equilibrium in cournot model, each firm sells:
  23. If under perfect competition, in the short period, price does not cover the average cost completely,…
  24. A decrease in demand lowers the price the most:
  25. Marginal cost is the cost:
  26. Total fixed costs are:
  27. On the total utility curve the economically relevant range is the portion over which:
  28. Who is the author of the famous work Asian Drama: An Enquiry intro the Causes of Poverty of Nations?
  29. The water diamond paradox was firstly resolved with the help of:
  30. Which of the following is called Gossens first law?