Economics - Practice Test | ExamPrepSheets

(A) utility is related to supply

(B) utility could be the cause of value

(C) utility is related to demand

(D) utility could not be the cause of value

(A) utility is related to supply

(A) inferior goods

(B) giffen goods

(C) capital goods

(D) normal goods

(D) normal goods

(A) Infinite

(B) More than One

(C) Less than One

(D) Equal to One

(A) Infinite

(A) increasing returns to scale

(B) public goods

(C) the consumption externalities

(D) income inequalities

(C) the consumption externalities

(A) $$frac{{{ ext{Proportional change in the price of commodity X}}}}{{{ ext{Proportional change in the demand of commodity Y}}}}$$

(B) $$frac{{{ ext{Proportional change in the demand of commodity X}}}}{{{ ext{Proportional change in the demand of commodity Y}}}}$$

(C) $$frac{{{ ext{Proportional change in the demand of commodity X}}}}{{{ ext{Proportional change in the price of commodity Y}}}}$$

(D) All the statements are correct

(C) $$frac{{{ ext{Proportional change in the demand of commodity X}}}}{{{ ext{Proportional change in the price of commodity Y}}}}$$

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