Demand for necessary goods (salt, rice, etc,) is ______________ and demand for comfort and luxury good is

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Question:
Demand for necessary goods (salt, rice, etc,) is ______________ and demand for comfort and luxury good is

1.Elastic, inelastic

2.Inelastic, elastic

3.Elastic, elastic

4.Inelastic, inelastic

Posted Date:-2021-11-04 08:26:07

More MCQS Questions and answers

  1. An increase in income may lead to an increase in the quantity demanded, it is
  2. Analysis of long run and short run affects of decisions on revenue as well as costs is based on
  3. Average cost pricing is also called as
  4. Average revenue is the revenue per
  5. Consumer Interview method of demand forecasting may undertaken by;
  6. Decision making and ______________ are the two important functions of executive of business firms
  7. Demand for necessary goods (salt, rice, etc,) is ______________ and demand for comfort and luxury good is
  8. Demand for tyres depends on demand of vehicles, the demand for tyres called as
  9. Fixing high price during the introduction is called
  10. For the commodities like salt, sugar etc., the income elasticity will be
  11. Functional relationship between input and output known as
  12. If the commodities are substitute in nature, cross elasticity will be
  13. In a perfectly competitive market, individual firm
  14. in economics ______________ means 'a state of rest 'or 'stability'
  15. In the above function, the letter Y stands for
  16. In the case of unitary elastic demand, the shape of demand curve is
  17. In the case of ______________ Consumer may moves to higher or lower demand curve
  18. Information for pricing decisions involves:
  19. Method of charging low price initially called _______
  20. Prices of Bata shoe as Rs.99.99, this pricing is
  21. Purposes of Short term Demand forecasting doesn't includes;
  22. Purposes of Short term Demand forecasting includes;
  23. Quantity remains the same whatever the change in price, this is the case of
  24. Selling cost is the feature of the market form
  25. The causes of emergence of monopoly is/are:
  26. The firm charges price in tune with the industry’s price is called
  27. The marginal revenue equation can be derived from the:
  28. Total Revenue will be maximum at the point where Marginal Revenue is
  29. Under oligopoly a single seller cannot influence significantly
  30. Under which method, the cost is added with the predetermined target rate of return on capital invested
  31. Under ______________ Method, a panel is selected to give suggestions to solve the problems in hand
  32. Unitary elasticity of demand mean
  33. When a small change in price leads to infinite change in quantity demanded, it is called
  34. when income increases, quantity demanded falls, it is
  35. Which is the characteristics of managerial economics
  36. Which is the condition of for market penetration?
  37. Which is the determinant of the pricing policy of a firm?
  38. Which is the reason of skimming price?
  39. Which of the following is / are the reason for adopting penetration price strategy
  40. Which of the following is not a function of managerial economists
  41. Which of the following is/ are the reason for adopting skimming price strategy
  42. Which one of the following is an internal factor influencing pricing
  43. Which one of the following is not a reason for adopting skimming price strategy
  44. Which one of the following is not an internal factor influencing pricing policy
  45. _____ means an attempt to determine the factors affecting the demand of a commodity or service and to measure such factors and their influences
  46. _____ Method is also known as Sales‐Force –Composite method or collective opinion method
  47. _______ forecasting is more important from managerial view point as it helps the management in decision making with regard to the firms demand and production.
  48. _______ shows the change in quantity demanded as a result of a change in consumers' income
  49. ________ is situation of severely falling prices and lowest level of economic activities
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