Top 100+ Indian Economy Online Test Questions and Answers 2020-2021 - 3
Question: 11
_____ explained the concept of ‘Maximum social advantage’.
(A) Hicks and Dalton
(B) Grossen
(C) Alfred Marshall
(D) Adam Smith
Ans: A
Hicks and Dalton
Question: 12
Increase in demand is shown by _____
(A) Lowest point on the demand curve
(B) The highest point on the demand curve
(C) Shifts of the demand curve
(D) Movement along the same demand curve
Ans: C
Shifts of the demand curve
Question: 13
_____ method is used to measure price elasticity of demand at a point on the demand curve.
(A) Percentage
(B) Point
(C) Total outlay
(D) Arc
Ans: B
Point
Question: 14
Economics is a _____
(A) Normative science
(B) Positive science
(C) Both
(D) None
Ans: C
Both
Question: 15
In the short period, _____ plays an important role in the market.
(A) Price
(B) Saving
(C) Supply
(D) Demand
Ans: D
Demand
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