Question : Which of the following is an assumption made while drawing the demand curve
a:The demand curve must be linear
b:The price of substitutes should not change
c: The quantity demanded should not change
d: The price of the commodity should not

Question : When a good's demand is less elastic,
a) Price change as a percentage of demand as a percentage of price change
b) Change in the amount demanded as a percentage of price change
c) Price change by percentage equals demand by percentage changed
d)

Question : Which of the following factors affects demand elasticity at prices?
a) The commodity's nature
a) Income status
c) The availability of alternatives
 

Question : Which of the following is the assumption of the law of demand?
A: The commodity's price should not change.
B: The quantity requested should not change.
C: Substitute prices should not change.

Question : Which of the subsequent assertions is untrue:
a) Higher elasticity number suggests a greater impact of a change in price on the quantity desired.
b) Demand elasticities can only fluctuate between -1 and +1.
c) Rectangular hyperbola demand curves will exist