ISCECONOMICS 12 ELASTICITY OF DEMANDMCQs With Solved Answers 1. Demand curve (DD) is a horizontal straight line parallel to X-axis in case of.. Show 2. Demand curve (DD) is a vertical straight line parallel to Y-axis in case of.. 3. Demand curve (DD) is a rectangular hyperbola in case of.. 4. Demand curve (DD) is flatter and its slope is inclined more towards X-axis, in case of.. 5. Demand curve (DD) is steeper and its slope is inclined more towards Y-axis, in case of.. ISC Commerce 12 Planning MCQs with Solved Answers Note: Answers are given below at the end. (Question 6 t0 10)ISC ECONOMICS 12 ELASTICITY OF DEMAND MCQs With Solved Answers6. When A slight or no change in the price leads to infinite changes in the quantity demanded. Demand of a commodity is said to be …….. (a) Perfectly Elastic Demand 7. when, Demand of a commodity does not change at all irrespective of any change in its price.Demand of a commodity is said to be …….. (a) Perfectly Elastic Demand 8. When the percentage change in Demand of a commodity is equal to the percentage change in price. Demand of a commodity is said to be …….. (a) Perfectly Elastic Demand 9. When percentage change in Demand of a commodity is more than the percentage change in its price. Demand of a commodity is said to be …….. (a) Perfectly Elastic Demand 10.When percentage change in Demand of a commodity is less than the percentage change in its price. Demand of a commodity is said to be …….. (a) Less Elastic Demand (Ed <1) ISC Commerce 12 Sources of Finance MCQs with Solved Answers Note: Answers are given below at the end. (Question 11 t0 15)ISC ECONOMICS 12 ELASTICITY OF DEMAND MCQs With Solved Answers11. A negative sign with coefficient of price elasticity of demand denotes? 12. Demand for a good in less elastic when: 13. If the price elasticity of demand for a commodity is less than unity, a decrease in price would result in: 14. Which of the following will have elasatic demand 15. Which one of the following statement is incorrect ISC Economics 12 Demand MCQs With Solved Answer Note: Answers are given below at the end. (Question 16 t0 20)ISC ECONOMICS 12 ELASTICITY OF DEMAND MCQs With Solved Answers16. The following diagram represents ______ elastic demand for commodity X
(a) Less (b) Highly (c) Unitary (d) Perfectly 17. The following diagram represents ______ elastic demand for commodity X (a) Less (b) Highly (c) Unitary (d) Perfectly 18. The following diagram represents ______ elastic demand for commodity X (a) Less (b) Highly (c) Unitary (d) Perfectly 19. As price of a commodity increases from ₹ 40 per unit to ₹ 50 per unit, demand falls from 200 units to 100 units. What will be the elasticity of demand (a) (-)2 20. With increase in price of Pizza by 22%, its demand falls by 25%. This indicates that demand for Pizza is: (a) Elastic ISC Commerce 12 Business Environment MCQs with Solved Answers Note: Answers are given below at the end. ISC Commerce 12 Business Environment MCQs with Solved Answers Answer – Question Number 1To 51.Answer -(a) Perfectly Elastic Demand 2.Answer -(b) Perfectly Inelastic Demand 3.Answer – (c) Unitary Elastic Demand 4.Answer – (d) Highly Elastic Demand 5.Answer – (e) Less Elastic Demand Answer – Question Number 6 To 106.Answer – (a) Perfectly Elastic Demand 7.Answer -(b) Perfectly Inelastic Demand 8.Answer -(c) Unitary Elastic Demand 9.Answer – (d) Highly Elastic Demand 10.Answer – (a) Less Elastic Demand Answer – Question Number 11 To 1511.Answer – (c) Inverse relation between price of the commodity and quantity demanded. 12.Answer – (a) Percentage change in price > Percentage change in quantity demand 13.Answer – (a) Proportionately less increase in the quantity demanded 14.Answer – (d) Air Conditioners 15.Answer – (b) Elasticity of demand can vary only between -1 and +1 Answer – Question Number 16 To 2016.Answer – (c) Highly 17.Answer -(b) Unitary 18.Answer -(d) Perfectly 19.Answer -(a) (-)2 20.Answer -(a) Elastic ISC ECONOMICS 12 ELASTICITY OF DEMAND MCQs With Solved Answers |