Re: ::: vuaskari.com ::: Economics Quiz

On Thu, Dec 15, 2011 at 6:43 AM, SALEEM KHAN <saleem999@gmail.com> wrote:

If the cost of parts of automobiles rises, then:

1.       The demand curve for automobiles shifts to the right.

2.       The demand curve for automobiles shifts to the left.

3.       The supply curve for automobiles shifts to the right.

4.       The supply curve for automobiles shifts to the left.

Ø  In Car industry, there are fewer manufacturers that manufacture slightly differentiated cars. They take decisions by considering the actions of rival firms. This industry operates in:

5.       Monopoly.

6.       Oligopoly.

7.       Natural Monopoly.

8.       Monopolistic Competition.

Cartel
A cartel is a formal (explicit) agreement among firms. Cartels usually occur in an oligopolistic industry,
where there are a small number of sellers and usually involve homogeneous products.

Ø  Since more substitutes of Pepsi are available in the market like Coca Cola, Sprite etc., the demand for Pepsi is said to be __________ in response to change in price.

9.       More inelastic

10.   More elastic

11.   Unit elastic

12.   Perfectly Inelastic

Ø  If the supply of a product decreases and supply curve shifts leftward, and the demand for that product simultaneously increases and demand curve shifts rightward, then equilibrium:

13.   Price must rise.   lesson 5

14.   Price must fall.

15.   Quantity must rise.

16.   Quantity must fall.

--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
This (Main) Group:http://groups.google.com/group/vuaskari_com?hl=en?hl=en
MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
HRM Group: http://groups.google.com/group/askari_hrm?hl=en?hl=en
Banking Group: http://groups.google.com/group/askari_banking?hl=en?hl=en
Management: https://groups.google.com/group/vuaskari_mgt?hl=en
Marketing: https://groups.google.com/group/vuaskari_mkt?hl=en
MIS Group: http://groups.google.com/group/askari_mis?hl=en

--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
This (Main) Group:http://groups.google.com/group/vuaskari_com?hl=en?hl=en
MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
HRM Group: http://groups.google.com/group/askari_hrm?hl=en?hl=en
Banking Group: http://groups.google.com/group/askari_banking?hl=en?hl=en
Management: https://groups.google.com/group/vuaskari_mgt?hl=en
Marketing: https://groups.google.com/group/vuaskari_mkt?hl=en
MIS Group: http://groups.google.com/group/askari_mis?hl=en