Indian Economy Questions

Goods for which demand move in the opposite direction of the income of the consumer are called?

If price of an article decreases from Rs 600 to Rs 500, when quantity demanded increases from 10000 units to 12000 units. Find point elasticity of demand?

Match the characteristics with their market structure:
(a) Expand out put until MC = MR
(b) Elasticity of demand depends on pricing policies of rivals

If demand curve for racing cycles is D = 59600 - 6P and supply curve is S = 29600 + 4P, find the equilibrium Quantity?

The Law of Demand is based on the concept that people _______.

Short run marginal cost curve cuts the average variable cost curve from _______ at the minimum point of average variable cost.

Open Market Operations refer to __________

Lorenz curve shows