Business Economics F.Y.B.com sem 1 pdf 2021
Business Economics F.Y.B.com sem 1 1. The market demand schedule shows an _____ relationship between price and demand. a. direct b. No c. inverse d. none of these ANS: C 2. The market demand curve slopes _____. a. upwards b. Horizontal c. Vertical d. downward ANS: D 3. _____ refers to the total quantities of commodity offered for sale by all in producers. a. equilibrium price b. Market demand c. None of these d. market supply ANS: D 4. When the market schedule is plotted on a graph we get _____ curve. a. Equilibrium point b. Market demand c. None of these d. market supply ANS: D 5. The market supply curve slopes _____ to the right. a. downward b. upwards c. Vertical d. Horizontal ANS: A 6. The _____ is determined by the interaction of market demand and supply. a. market b. price c. equilibrium point d. none of these ANS: A 7. The point at which quantity demand equals to supply is the _____. a. equilibrium point b. none of these c. EVS d. FRM ANS: A 8. With an increase in supply, demand remaining unchanged, the equilibrium price _____. a. raised b. falls c. constant d. none of these ANS: B 9. Shift in the supply curve to the left will _____ the equilibrium price. a. no effect b. increase c. decreased d. none of these ANS: D 10. Shift in the supply curve to the left will increase the _____. a. Market demand b. equilibrium price c. Market supply d. none of these ANS: B 11. The market demand curve slopes _____ from left to right. a. downward b. upward c. horizontal d. vertical ANS: A 12. The market supply schedule shows _____ relationship between price and quantity supplied. a. inverse b. direct c. no d. none of these ANS: B 13. The point at which the quantity demanded equals supplied is the _____. a. total supply b. total demand c. equilibrium point d. none of these ANS: C 14. A case of increase in demand, supply remaining unchanged, the equilibrium price _____. a. rises b. falls c. constant d. none of these ANS: A 15. A case of decrease in supply, demand remaining unchanged, the equilibrium price _____. a. falls b. rises c. constant d. None of these ANS: B 16. As price _____ , quantity demanded decreases and quantity supplies increases. a. decreases b. increases c. remain constant d. None of these ANS: B 17. Market _____ is derived by adding up all the individual demand. a. demand b. supply c. price d. none of these ANS: A 18. Which of the following shows the relationship between the price of a good and the amount of the good that consumers want at that price? a. Supply curve b. Demand curve c. Supply schedule d. Production possibilities frontier ANS: B 19. The market clearing price is also called the ________. a. current price b. prevailing price c. equilibrium price d. None of the above ANS: C 20. A straight line demand curve implies _____ demand function. a. Linear b. Non– Linear c. Steep d. Vertical
