ECO121
Question: Change in demand is also known as
Answer: shift in demand curve
Question: The amount of satisfaction derive from consumption of a particular commodity is —
Answer: utility
Question: is the degree of responsiveness of demand to a change in consumer’s income
Answer: income elasticity of demand
Question: The price floor is fixed equilibrium price
Answer: above
Question: Degree of responsiveness of demand to change in commodity own price is
Answer: price elasticity of demand
Question: price ceiling is always fixed – equilibrium price
Answer: below
Question: The following are features of perfect competitive market except
Answer: single seller, many buyers
Question: Movement along demand curve is also known as
Answer: change in quantity demanded
Question: A budget line is
Answer: downward sloping
Question: The following are determinants of demand elasticity except
Answer: technology
Whatsapp: 08039407882 for your Free Past Questions I Exam Summary I To become a Tutor
Follow on Twitter for your Free Past Tma Questions I Free Exams Summary I Online Tutorial I Projects Writeup
