CSS Economics Solved Mcqs

Q.  When demand is perfectly inelastic, an increase in price will result in:

a. A decrease in total revenue
b. An increase in total revenue
c. No change in total revenue
d. A decrease in quantity demanded


ANSWER: See Answer
 
No explanation is available for this question!
MCQs:  If price changes by 1% and supply changes by 2% then supply is:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  If elasticity of supply is greater than one. Supply curve will be:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Supply surve:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  During a particular year farmers experienced a dry weather, if all other factors remain constant, farmers supply curve for wheat will shift to:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  When supply of a commodity increases without change in price it is called:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  In May 2013, firm was supplying 500kg of sugar of market price of Rs. 30/- per kg. During June 2013, firm's supply of sugar had decreased to 450kg at price Rs. 20/- per kg. These changes show that supply of sugar is:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  What best explains a shift in market supply curve to the right?
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Economic problems arise because:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Which is not an essential condition for an economic problem to arise?
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Which is not a central problem of an economy?
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Who defined Economics as a 'Science which studies human behaviour as a relationship between ends and means which have alternative uses?
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  A mixed economy is characterised by the co-existence of:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Which is not an essential feature of a socialist economy?
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Which of the following is incorrect?
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Microeconomics deals with the:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Which of the following is Microeconomics concerned with?
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Formulation of an economic theory involves:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  An economic theory is:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Identify the aspect of taxation which is related to normative economics:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts
MCQs:  Demand for a commodity refers to a:
Category: Central Superior Service Test Mcqs (CSS),   Published by: T-Code Scripts