100+ Economics Quiz Questions and Answers Pdf - 3

Question: 11

The consumer will buy _____ at lower prices.

(A) Equal

(B) Less

(C) More

(D) Neither less or more

Question: 12

Measurement of elasticity through a change in expenditure on commodities due to change in price is called _____ method.

(A) Total outlay

(B) Arc

(C) Percentage

(D) Point

Question: 13

The demand for labour is _____

(A) Derived demand

(B) Direct demand

(C) Effective demand

(D) Elastic demand

Question: 14

To explain rent, _____ economists make use of the term transfer earning.

(A) New Classical

(B) Today

(C) Classical

(D) Modern

Question: 15

Psychology is the science of _____

(A) Atmosphere

(B) Circumstances

(C) Mind

(D) Body