Classical

Business Economics - Business Economics MCQ

16:  

Price elasticity of demand provides

A.
A measure of the responsiveness of the quantity demanded to changes in the price of the product, holding constant
the values of all other variables in the demand function.
B.
A technical change in the goodwill of the firm
C.

A technical change in the cost of product

D.

Technical change in the value.

 
 

Option: A

Explanation :


17:  

Demand curve is related to

A.

MU curve

B.
Marginal revenue
C.

Both (a) and (b)

D.

None of these

 
 

Option: C

Explanation :


18:  
Market with one buyer and one seller is called
A.

Monopsony

B.

Monopoly

C.

Bilateral Monopoly

D.

None of the above

 
 

Option: C

Explanation :


19:  

The upper portion of the kinked demand curve is relatively

A.

More inelastic

B.

More elastic

C.

Less elastic

D.

Inelastic

 
 

Option: B

Explanation :


20:  

Which of the following is an important dynamic variable?

A.

Superior's style and behaviour

B.

Organisational nature

C.

The task structure

D.

Cultural variables

 
 

Option: C

Explanation :




Suggest an improvement