Economics GK Questions and Answers Set 24

Economics GK questions and answers Set 24 for competitive exams Quiz  UPSC, SSC CGL General Awareness, NEET, CTET. Economics General Knowledge Questions One Liner for Practice  science Talent Test and Class 10and 12th entrance Test so for

Economics GK Questions and Answers Set 24 1

1 .The opportunity cost of a factor of production is
Economics GK Questions and Answers Set 24 2 View Answer

2 .When average cost of production decreases then marginal cost of production
Economics GK Questions and Answers Set 24 2 View Answer

3 .Consumption of inferior goods decreases when-
Economics GK Questions and Answers Set 24 2 View Answer

4 .For a good --------negative income elasticity and positive price elasticity of demand, then the good is-
Economics GK Questions and Answers Set 24 2 View Answer

5 .Goods which are either for consumption or for investment are called-
Economics GK Questions and Answers Set 24 2 View Answer

6 .In capitalist economy, price value is determined by.
Economics GK Questions and Answers Set 24 2 View Answer

7 .Discuss about giffen and inferior good.
Economics GK Questions and Answers Set 24 2 View Answer

8 .Group consumption means-
Economics GK Questions and Answers Set 24 2 View Answer

9 .In respect to inferior good, price elasticity of demand is -
Economics GK Questions and Answers Set 24 2 View Answer

10 .Elasticity expressed by formula 1>e>o is -
Economics GK Questions and Answers Set 24 2 View Answer

11 .When there is no change in demand, with large change in price then such type of demands are called.
Economics GK Questions and Answers Set 24 2 View Answer

12 .With other factor Constant, the demand of any product is decreased by.
Economics GK Questions and Answers Set 24 2 View Answer

13 .Law of demand is good on
Economics GK Questions and Answers Set 24 2 View Answer

14 .According to 'Law of Demand', 'quantity of demand increases'
Economics GK Questions and Answers Set 24 2 View Answer

15 .'Law of market' was propounded by
Economics GK Questions and Answers Set 24 2 View Answer

16 .'Law of Market' propounded by J.B. Say was not acceptable to
Economics GK Questions and Answers Set 24 2 View Answer

17 .The demand of factor of production is called.
Economics GK Questions and Answers Set 24 2 View Answer

18 .Demand of Labour is called
Economics GK Questions and Answers Set 24 2 View Answer

19 .Horizontal demand shows relation
Economics GK Questions and Answers Set 24 2 View Answer

20 .According to demand curve of any product, increase in demand in due to
Economics GK Questions and Answers Set 24 2 View Answer

21 .Which factor is not responsible for shifting demand curve right side.
Economics GK Questions and Answers Set 24 2 View Answer

22 .A supply function expresses relationship between.
Economics GK Questions and Answers Set 24 2 View Answer

23 .Productive goods are called as
Economics GK Questions and Answers Set 24 2 View Answer

24 .When demand curve of any product is parallel to x-axis, then elasticity of demand will be
Economics GK Questions and Answers Set 24 2 View Answer

25 .Perfectly inelastic demand is equal to
Economics GK Questions and Answers Set 24 2 View Answer

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