133. twenty-five, it means tomatoes are: (a) Inferior products. (b) Deluxe merchandise. (c) Regular services and products. (d) Are unable to say. Answer: (c) Typical products.
You will find a love anywhere between price of a commodity and the need for their complementary services and products (other things kept the same)
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134. 6. So what does it indicate: (a) Private university studies was a luxurious. (b) Personal university degree is actually a necessity. (c) Individual college or university degree try an inferior item. (d) We would like to convey more private universities. Answer: (a) Individual school studies try a deluxe.
Assume the money elasticity out of knowledge independently university in the India are step one
135. Imagine potatoes has (-).0.cuatro because the income suppleness. We can say on the study since: (a) Carrots try second-rate merchandise. (b) Potatoes try superior products. (c) Carrots try fundamentals. (d) There can be a desire to help the earnings off users thus that they’ll purchase carrots. Answer: (a) Potatoes try substandard items.
136. In the event your earnings elasticity was less than you to definitely, it shows that items try both apparently least essential in the fresh new sight of individual otherwise it’s an excellent ________. (a) Substandard (b) Deluxe (c) Need (d) None of them Respond to: (c) Criteria
137. Money flexibility regarding request off commodity “Buttons” are ________. (a) Higher than you to (b) Lest than just you to (c) No (d) One Answer: (c) No
138. ‘Bajra’ is a smaller sized commod¬ity on the sight of one’s house. The earnings flexibility out-of consult would be ________. (a) Over step 1 (b) Comparable to 1 (c) Less than 1, however, more than 0 (d) Bad Address: (d) Bad
139. Mix suppleness out-of demand is the levels of item and this could be needed as a result to help you ________, remaining anything else left a similar. (a) Income from user (b) Cost of same product (c) Cost of Associated product (d) One another (b) L(C) Answer: (c) Price of Relevant commodity
140. In the eventuality of alternative commodities, the fresh get across request curve hills ________. (a) Up (b) Downward (c) Circular (d) Parabolic Address: (a) Upwards
143. The newest mix elasticity ranging from Dough and you may Cds was: (a) Confident. (b) Bad. (c) Zero. (d) You to definitely. Answer: (c) No.
144. The newest mix flexibility ranging from pcs and you will software’s was: (a) Positive. (b) Bad. (c) no. (d) One. Answer: (b) Bad.
145. In the event that a couple products are finest alternatives for each most other, the latest mix flexibility between them is ________. (a) You to (b) More than one (c) Lower than one to (d) Unlimited Respond to: (d) Unlimited
145A. When the numerical worth of mix elasticity ranging from two services and products are extremely high, it means: (a) The goods are fantastic comple-ments and this have to be used along with her. (b) The goods are perfect replacements and will be used without difficulty rather than both. (c) Discover a high standard of substi-tutability between the two items. (d) The products is basic so there-fore can’t be considered as substitutes. Answer: (c) There’s a leading level of substi-tutability among them products.
146. In case your goods are replaced (for example teas and you may java), the new get across flexibility among them is actually ________. (a) Confident (b) Negative (c) No (d) Infinity Answer: (a) Confident
146A. In the event the quantity necessary out-of lamb increases by the 5% if price of chicken increases of the 20%, the fresh new cross¬price flexibility out of demand anywhere between mutton and you may poultry was: (a) – 0.25 (b) 0.twenty-five (c) – cuatro (d) 4 Address: (b) 0.twenty five
147. If there is Subservient Services and products, an increase in the cost of you to definitely contributes to a fall from the wide variety needed of your own other. The brand new get across suppleness from request anywhere between these types of could well be ________. (a) Confident (b) Bad (c) Zero (d) Infinity Address: (b) Bad
