1.What is the effect of enhancing employee training on the aggregate supply curve?
2.Which factor would lead to a rise in aggregate demand?
3.Which of the following scenarios would cause aggregate demand to rise?
4.If the price elasticity of supply is +4 and the price rises by 15%, what will be the new quantity supplied given the initial sales were 200 units?
5.What is the expected effect of increased productivity on the supply curve?
6.What is the effect of a rise in production costs on the supply curve?
7.What is the price elasticity of supply for a supply curve that originates from the origin?
8.When the price rises by 4% and the quantity supplied increases by 8%, how would you describe the supply elasticity?
9.Which of the following correctly describes the price and income elasticity of demand for a normal good?
10.What happens to total revenue when the demand for a product is price inelastic and the price is raised?
11.What does it indicate when the price elasticity of demand is expressed as a negative value?
12.What does a cross elasticity of demand value of -2 indicate about the relationship between two products?
13.When the price drops from Rs 2,000 to Rs 1,800, the annual quantity demanded rises from 5,000 units to 6,000 units. Which statement below is accurate?
14.What happens to the demand for an inferior good when consumer income changes?
15.What is the effect on demand when the price rises, assuming all other factors remain constant?
16.What is the effect of a rise in income on the demand for an inferior good?
17.What does the law of diminishing utility state?
18.What could be a possible reason for a decrease in price?
19.In an unregulated market, rising prices allocate goods to individuals who have both the willingness and financial ability to purchase them. What is this mechanism called?
20.What type of relationship exists between two products if their cross-price elasticity of demand is negative?