The cash elasticity out of tomatoes is 0

The cash elasticity out of tomatoes is 0

133. twenty five, it indicates tomatoes are: (a) Substandard products. (b) Deluxe merchandise. (c) Normal services and products. (d) Can’t state. Answer: (c) Typical services and products.

There is certainly a romance between price of a product and the need for the complementary goods (anything kept the same)

134. six. How much does that it imply: (a) Personal school training try a luxurious. (b) Private college studies is actually a requirement. (c) Personal college or university training try an inferior item. (d) We want to convey more personal universities. Answer: (a) Private college or university training is a deluxe.

Suppose the amount of money suppleness of knowledge independently college or university within the India was step 1

135. Assume carrots keeps (-).0.cuatro as money flexibility. We can state regarding studies just like the: (a) Potatoes try substandard items. (b) Potatoes is actually advanced services and products. (c) Potatoes is necessities. (d) There is certainly a want to improve the earnings regarding users very that they can buy carrots. Answer: (a) Potatoes are lower items.

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136. In the event the income suppleness was lower than you to, they shows that the products try often seemingly least important in the attention out-of individual otherwise it’s a ________. (a) Second-rate (b) Luxury (c) Need (d) Not one of those Answer: (c) Prerequisite

137. The funds elasticity out of consult out-of commodity “Buttons” are ________. (a) Greater than that (b) Lest than just you to definitely (c) Zero (d) One Address: (c) Zero

138. ‘Bajra’ are an inferior commod¬ity on sight of your own family. The money flexibility from request would be ________. (a) More 1 (b) Equivalent to step 1 (c) Lower than 1, however, higher than 0 (d) Bad Respond to: (d) Bad

139. Cross elasticity away from consult refers to the quantities of product and therefore is necessary in response so you’re able to ________, staying anything else left the same. (a) Income regarding consumer (b) Price of exact same item (c) Price of Relevant item (d) One another (b) L(C) Answer: (c) Cost of Relevant product

140. In the eventuality of substitute products, the new get across demand bend hills ________. (a) Right up (b) Down (c) Game (d) Parabolic Respond to: (a) Upwards

143. The get across flexibility ranging from Dough and Cds is actually: (a) Confident. (b) Negative. (c) Zero. (d) That. Answer: (c) Zero.

144. The latest cross flexibility anywhere between personal computers and you may software’s are: (a) Positive. (b) Negative. (c) no. (d) One. Answer: (b) Negative.

145. If one or two goods are perfect replacements for each and every other, brand new mix suppleness among them is actually ________. (a) One (b) Several (c) Lower than that (d) Infinite Answer: (d) Unlimited

145A. When the mathematical property value mix elasticity ranging from a few merchandise is actually extremely high, it indicates: (a) Items are good comple-ments hence need to be made use of with her. (b) The products are good alternatives and can be taken without difficulty unlike both. (c) There was a top degree of substi-tutability between them items. (d) Items was basic and there-fore can’t be regarded as alternatives. Answer: (c) There was a top amount of substi-tutability between the two services and products.

146. Should your products are replaced (eg tea and you will java), the cross elasticity among them is actually ________. (a) Self-confident (b) Bad (c) No (d) Infinity Respond to: (a) Confident

146A. When your wide variety recommended away from mutton grows by the 5% if the cost of poultry develops of the 20%, the fresh get across¬price elasticity off consult ranging from mutton and poultry try: (a) – 0.twenty-five (b) 0.25 (c) – cuatro (d) 4 Answer: (b) 0.twenty five

147. In case there is Subservient Goods, an increase in the expense of that results in a trip regarding amounts recommended of almost every other. The new get across elasticity out of consult ranging from such might possibly be ________. (a) Self-confident (b) Bad (c) No (d) Infinity Address: (b) Bad