Class XI ECO Chapter 3 Test Paper Part I 2021

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DEMAND

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1. Which of the following is an example of complementary goods? *

1 point

Tea and Coffee

Coke and Pepsi

Rice and wheat

None of these

2. The demand for normal good_______ with an increase in income of the consumer. *

1 point

Increase

Decreases

Remains same

Either increases

3. Increase in price of substitute good leads to: *

1 point

Expansion in Demand

Increase in Demand

Decrease in Demand

Contraction in demand

4. A,B and C are there commodities, where A and B are complementary; whereas A and C are Substitutes. with increase in price of commodity A: *

1 point

Demand of all the commodities A and B will fall,

Demand of Commodities A and B Will fall, whereas demand of C Will rise

Demand of commodities A and C will fall, whereas demand of A will rise

Demand of commodities B and C will fall, whereas demand of A will rise

5. When two or more goods are demanded simultaneously, it is known as: *

1 point

Joint Demand

Alternate Demand

Direct Demand

Composite Demand

6. There will be a __________ in the demand curve of curs with an increase in the price of petrol: *

1 point

Rightward Shift

Upward Movement

Leftward Shift

Downward Movement

7. The demand curve for a commodity is generally drawn on the assumption that: *

1 point

Price of substitute goods do not change.

Tastes and preferences of the consumer remain the same

Income of the consumer remains the same.

All of these

8. which one of these is not an example of substitute goods? *

1 point

Tea and coffee

Coke and Pepsi

Ink pen and Ball pen

Bread and Butter

9. Law of Demand states the_______ relationship between price and quantity demanded. *

1 point

Inverse

Positive

Proportional

None of these

10. Expansion in demand leads to: *

1 point

Rightward Shift in demand curve

Downward Movement along the demand curve

Upward Movement along the demand curve

None of theses

11. Which one of these is a determinant of Individual demand? *

1 point

Size and composition of Population

Season and weather

Distribution of income

None of these

12. From the given demand schedule, determine the effect on demand curve: Price (Rs) 20 20 Demand (units)100 70 *

1 point

Rightward Shift in demand curve

leftward Shift in Demand curve

Upward movement along the demand curve

Downward movement along the demand Curve

13. expansion in demand occurs due to: *

1 point

Rise in price of the given commodity

Fall in price of the given commodity

Rise in price of substitute goods

Fall in price of complementary goods

14. there is a sudden change in climatic conditions resulting in hot weather. Assuming no change In the price of the cold drinks, it will lead to: *

1 point

Upward movement along the same market demand curve

Downward movement along the same market demand curve

Rightward shift in the market demand curve

Leftward shift in the market demand curve

15. A movement along the demand curve for soft drinks is best described as: *

1 point

Increase in demand

Decrease in demand

Change in quantity demanded

Change in demand

16. If more is demanded at the same price or same quantity at higher price, this fact of demand is Known as: *

1 point

Extension of demand

Increase in demand

Change in quantity demanded

Change in demand

17. Cross demand states the relationship between: *

1 point

Demand of given commodity and price of related goods.

Demand of given commodity and income of the consumer.

Demand of given commodity and taste and preferences.

None of these .

18. Which of one following is not an assumption of law of demand? *

1 point

Price of substitute goods do not change

Income of the consumers remain same

There is no change in tastes and preferences of the consumers

Price of the given commodity does not change.

19. If change in price of good A affects the demand for good B, then: *

1 point

A is a substitute of good B

A is a complement of good B.

Both (a) and (b)

Either (a) or (b)

20. in a typical demand schedule, quantity demanded: *

1 point

Varies directly with price

Varies proportionately with price

Varies inversely with price

Is independent of price.

21. Which of the following is a determinant of market demand? *

1 point

Income of the consumers

Season and weather

Price of related goods

All of the above

22. Which of the following factors will lead to leftward shift in the demand curve: *

1 point

Increase in income in case of inferior goods

Increase in income in case of normal goods

Increase in Population

Expectation of future increase in price

23. Decrease in the price of the complementary goods leads to: *

1 point

Upward movement along the same demand curve

Downward movement along the same demand curve

Rightward shift in the demand curve

Leftward shift in the demand curve

24. If price of good X’ rises and it leads to a fall in demand for good ‘Y’, then the two goods are *

1 point

Substitute goods

Complementary goods

Normal goods

Inferior goods

25. Market demand curve is obtained by ____________ summation of the individual demand Curves. *

1 point

Vertical

Horizontal

Both (a) and (b)

Neither (a) nor (b)

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