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. Over the years, the demand for textiles in India has grown inspite of rising prices. It is an example for demand function General tendency in rise in price Law of demand Exceptions to law of demand2. Demand Schedule of a firm shows quantities of a commodity Purchased at varying prices at different periods of time Purchased at varying prices at a given period of time Purchased at a price That can be purchased at varying prices3. In the long run, consumption habits of people become Perfectly inelastic Perfectly elastic Inelastic Elastic4. In case of prestige goods, a fall in price lead to A small rise in demand Decrease in demand Increase in demand A very high rise in demand5. Market Demand Schedule shows the Total demand of all consumers Total price and demand Aggregate behaviour of the market Sum of all individual demand schedulesThank 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
