List of practice Questions

What is the market where both consumer and firms are price takers called?
Two sellers is a special case of which type of market?
For what reason does monopolistic competition arise?
Which of the following is under the category of services?
Which of the following is producing goods?
What are the goods that are not destroyed by short term consumption called?
In the problem of double counting, which good is counted twice?
When market supply is equal to market demand, then this situation is called
What kind of market is market for biscuits?
At a price more than equilibrium price, what will be supply (S) compared to demand (D)?
In which situation is the change in equilibrium price and quantity in the same direction?
Wheat sold at ration shop is an example of
Between the years 1929 and 1933, in every nth Americans ............ was unemployed.
In a capitalist economy the production activities are in the hands of
In an economy, decision regarding consumption is made by which sector?
In export by a country, the goods
The income of which factor of production is called profit?
In which country, besides capitalist sector, the state also plays a role in the economy?
What would happen to demand for normal goods with rise in income?
What is the market demand curve of demand curves of different individuals?
If the demand curve for a good is vertical, then what would be the elasticity of demand \( |e_d| \)?
At the point where the straight-line demand curve cuts the x-axis, what is the value of elasticity of demand?
What does the economy produce?
Price determination and consumer behaviour is studied under which economics?
What is a group of many indifference curves called?