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 : 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 : EXCEPT for the one, the following are the causes of a shift in demand:
A: Change in income
B: Change in price
C: Change in prices of substitutes
D: Change in fashion
 

Question : Which of the following statements is FALSE?
A: All five types of elasticity can be depicted on a linear demand curve.'
B: If two demand curves are linear and intersect, the coefficient of elasticity on the different demand curves at the point of intersection

Question : Commodity demand refers to: