Eco quick knowledge test
1 / 5
The demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect a relatively:
2 / 5
Price Elasticity of Demand of a good is (-) 3. It shows that:
3 / 5
If the quantity of a commodity demanded remains unchanged as its price changes, the coefficient of price elasticity of demand is:
4 / 5
When the price of a substitute of commodity X falls, the demand for X:
5 / 5
Which aspect of taxation involves Normative Economics?
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Indian Contract Act
