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Economics Past Questions and Answers

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Economics Questions

Question 3501:

If the price of floor rises, then bread

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A Demand curve will shift to the left while supply curve will shift to the right
B Supply curve will shift to the left
C Supply curve will shift to the right
D Demand curve will shift to the right while supply curve remains unchanged

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Question 3502:

which of the following is not a reason for abnormal demand

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A Price of the commodity
B Goods of ostentation
C Giffen goods
D Rare commodity

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Question 3503:

increase in production subsidies will shift

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A The demand curve to the left
B The supply curve to the right
C Both the supply demand curves to the left
D Supply curve to the left and demand curve to the right

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Question 3504:

The market supply curve slopes upward from left to right indicating that?

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A Producers pay high taxes
B Two commodities can be supplied at the same time
C At a lower price, less is supplied
D At a lower price, more is supplied and demanded

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Question 3505:

if a given change in price brings a proportionately larger change in quantity demanded, the

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A Demand is relatively price elastic
B Demand is relatively price inelastic
C Price elasticity of demand is unitary
D Price elasticity of demand is constant

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