A. maximum pricing B. rationing C. minimum pricing D. auctioning Correct Answer: Option D D. auctioning Explanation A maximum price…
A. increase in demand B. change in taste C. intersection of demand and supply D. increase in supply Correct Answer:…
A. demand is relatively prices elastic B. demand is relatively prices inelastic C. price elasticity of demand is unitary D.…
A. producers pay high taxes B. two commodities can be supplied at the same time C. at a lower price…
A. the demand curve to the left B. the supply curve to the right C. both the supply-demand curves to…
A. price of the commodity B. goods of ostentation C. Giffen goods D. rare commodity Correct Answer: Option C C.…
A. the demand curve will shift to the left while the supply curve will shift to the right B. supply…
A. shortage of commodities B. low retail prices C. hoarding of goods D. high retail prices Correct Answer: Option B…
A. is affected by extreme values B. can only be used for continuous data C. cannot be used to measure…
A. ownership of resources B. scarcity of resources C. method of decision making D. motivation for production Correct Answer: Option…