Demand Analysis - 3

Demand Analysis - 3

12th Grade

10 Qs

quiz-placeholder

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Demand Analysis - 3

Demand Analysis - 3

Assessment

Quiz

Education

12th Grade

Practice Problem

Medium

Created by

Sujata Debnath

Used 8+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Demand for consumer goods like clothes, salt, sugar etc. have ______type of demand

Indirect demand

Direct demand

Complementary demand

Composite demand

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Find odd word out: ( Based on types of demand)

Electricity

Milk

Water

Car & Petrol

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Find odd word out: (Based on exceptions & assumptions)

No change in tastes, habits & preferences

Ignorance

Price illusion

Giffen's paradox

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Expensive goods like diamond, gold etc. are examples of _________

Habitual goods

Giffen's goods

Prestige goods

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The 'Law of demand' is introduced by ___________

Adam Smith

Prof. Alfred Marshall

J. S. Mill

David Ricardo

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Prestige goods: ________:: Habitual goods: Tea or coffee

Washing machine

Diamond

Television

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Rise in demand due to favourable changes in other factors: Increase in demand :: ___________: Expansion in demand .

Fall in demand due to rise of price alone

Rise in demand due to fall in price of substitute

Rise in demand due to fall in price alone

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