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Chapter 3 DEMAND AND SUPPLY MCQs

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1. . In economics, demand means?





2. . Nature of relation between price and demand is:





3. . Slope of demand curve is towards?





4. . Relationship between price and supply is:





5. . Slope of supply curve is towards?





6. . According to law of demand, the relationship between price and demand is:





7. . According to law of supply, the relationship between price and supply is:





8. . It is not included in perishable goods:





9. . Nature of relation between price and supply is:





10. . The term “all other factors remain constant” is the assumption of?





11. . What is meant by “other things being equal”?





12. . Increase or decrease in price and supply is called?





13. . Offering goods and services in a market at particular price is called?





14. . According to law of demand, when price of a commodity increase, its demand becomes……….?





15. . Which is the assumption of “law of demand”?





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