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- Question
In the following question, some part of the sentence may have errors. Find out which part of the sentence has an error and select the appropriate option. Ifa sentence is free from error, select 'No Error'. She has (1)/ reduced her (2)/ consumption to considerably. (3)/ No error (4)
Options- A. 1
- B. 2
- C. 3
- D. 4
- Correct Answer
- 3
- 1. A price floor is _____.
Options- A. a maximum legal price
- B. a minimum legal price
- C. the price where demand equals supply
- D. the price where elasticity of demand equals elasticity of supply Discuss
- 2. 'Bagh', a village in Gwalior is famous for
Options- A. Sculptures
- B. Architecture
- C. Cave Painting
- D. All of the above Discuss
- 3. If price of an article decreases from Rs 40 to Rs 30, quantity demanded increases from Q1 units to 7500 units. If point elasticity of demand is -1 find Q1?
Options- A. 9000 units
- B. 4500 units
- C. 10500 units
- D. 6000 units Discuss
- 4. Micro economics deals with
Options- A. the circular flow of income
- B. the decision making of a single economic variable like demand
- C. understanding unemployment
- D. economic growth Discuss
- 5. The minimum price at which I was willing to sell my old TV was Rs 37,000. I quoted Rs 50,000 while selling it, but it sold for Rs 42,000. This transaction generated _____.
Options- A. Rs 5000 worth of consumer surplus
- B. Rs 8000 worth of consumer surplus
- C. Rs 5000 worth of producer surplus
- D. Rs 8000 worth of producer surplus Discuss
- 6. The world famous Ajanta caves are situated in
Options- A. Orissa
- B. Karnataka
- C. Maharashtra
- D. Madhya Pradesh Discuss
- 7. __________________ is a good whose quantity demanded decreases when consumer income rises.
Options- A. Veblen good
- B. normal good
- C. exclusive good
- D. inferior good Discuss
- 8. The International Rice Research Institute is located in
Options- A. Thailand
- B. Malaysia
- C. Philippines
- D. Indonesia Discuss
- 9. If price of an article decreases from Rs P1 to Rs 75, quantity demanded increases from 1000 units to 1200 units. If point elasticity of demand is 3.2 findmP1?
Options- A. Rs 85
- B. Rs 80
- C. C)
- D. Rs 95 Discuss
- 10. Which latitude passes through the middle of India?
Options- A. Equator
- B. Arctic Circle
- C. Tropic of Capricorn
- D. Tropic of Cancer Discuss
More questions
Correct Answer: a minimum legal price
Correct Answer: Cave Painting
Correct Answer: 6000 units
Correct Answer: the decision making of a single economic variable like demand
Correct Answer: Rs 5000 worth of producer surplus
Correct Answer: Maharashtra
Correct Answer: inferior good
Correct Answer: Philippines
Correct Answer: Rs 80
Correct Answer: Tropic of Cancer
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