Managerial economics: Types of goodsThis entry was posted in Open Category Quiz by MyIQ Staff Instructions for Students: 1- Kindly attempt all the questions, before submitting. 2- For every correct answer, you will get 1 mark. 3- There is no negative marking. 4- Try to submit quiz, before the time runs out. 5- DO NOT REFRESH OR PRESS BACK BUTTON ON YOUR WEB BROWSER. All the best. 1. In the long run, consumption habits of people become Perfectly inelastic Inelastic Perfectly elastic Elastic2. In case of prestige goods, a fall in price lead to A small rise in demand A very high rise in demand Increase in demand Decrease in demand3. Demand Schedule of a firm shows quantities of a commodity Purchased at a price Purchased at varying prices at different periods of time That can be purchased at varying prices Purchased at varying prices at a given period of time4. Over the years, the demand for textiles in India has grown inspite of rising prices. It is an example for General tendency in rise in price demand function Law of demand Exceptions to law of demand5. Market Demand Schedule shows the Total demand of all consumers Total price and demand Sum of all individual demand schedules Aggregate behaviour of the marketThank you for taking this Quiz. Your scores will be e-mailed to you. MyIQ Education wishes you all the very best. Name Email Give your best shot to come up in the leaderboard below: [mlw_quizmaster_leaderboard mlw_quiz=21] Share this:FacebookTwitterEmailGoogleLinkedIn
