Micro PYQ — Page 19

Which central problem deals with choice of technology to be used for production ?

Distribution of output relates to which central problem of an Economy ?

All the points on Indifference curve represent :

A good that is considered to be inferior to a consumer, may be observed as normal good to the another consumer. This is due to

The demand for a good moves in opposite direction if change in the price of its __________ :

A Consumer's total utility level being the same, the amount of good 'X' that the consumer has to forego, in order to get an additional unit of good Y is termed as :

How will the earthquake in Turkey affect the production possibility curve of their economy?

The indifference curve is :

Which is an example of substitute good ?

A rational consumer is the one who has :

"Increase in price of good 'x' leads to increase in demand of good 'Y'. " How the goods are related to.

Elasticity of Demand is given by the formula.

An explanation for a downward sloping demand curve rests on the notion of :

Identify the impact of unemployment on PPC (Production Possibility Curve).

The goods which can be used in place of each other are called ?

Increase in demand refers to :

Which of the following is not a central problem of an economy?

Those goods which can be used together are called _______ goods .

Which of the following statements correctly describes the nature of indifference curve ? (A) Indifference curve slopes downwards from left to right (B) A lower indifference curve represents lower cost to consumer (C) A higher indifference curve gives higher level of satisfaction (D) Two indifference curves never intersect each other (E) Indifference curves are always parallel to each other Choose the correct answer from the options given below :

If ratio between the change in price & change in quantity demanded is 0.25. The consumer demands 100 units at an initial price of Rs 10 per unit. Calculate the price elasticity of demand.

Suppose an Individual buys 15 units of good when its price is Rs 5 per unit. What will happen to his demand when price of the good increases to Rs 7 per unit and elasticity of demand for the good is 0.5

Savita consumes 2 goods X and Y. If marginal utility of X is 30 utils and that of Y is 45 utils. Prices of both goods X and Y are Rs. 3 and Rs. 5 respectively. Savita will consume ________.

__________ gives rise to the problem of choice.

Match List - I with List - II. | List - I | List - II | |---|---| | (A) Fall in price of good | (I) Tea and coffee | | (B) Complementary goods | (II) Expansion of demand | | (C) Substitute good | (III) Shifting of demand curve | | (D) Rise in income | (IV) Shoes and socks | Choose the correct answer from the options given below :