100+ World Economy Objective Type Questions and Answers - 3

Question: 11

There are _____ kinds of price elasticity of demand

(A) 2

(B) 3

(C) 4

(D) 5

Question: 12

_____ money is held to meet an unforeseen expenditure.

(A) Supply

(B) Speculative

(C) Precautionary

(D) Transaction

Question: 13

In _____ period, supply can be increased by changing the variable inputs.

(A) Long period

(B) Very long period

(C) Market period

(D) Short period

Question: 14

_____ plays a significant role in determining the price in the long run.

(A) Supply

(B) Demand

(C) Cost

(D) Both demand and supply

Question: 15

The initial supply price of land is _____

(A) Greater than one

(B) Less than one

(C) Equal to one

(D) Zero