Question : A unit price elastic demand curve will touch
Option 1: Both price and quantity axis .
Option 2: Neither price axis , nor quantity axis.
Option 3: Only price axis .
Option 4: Only quantity axis .
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Correct Answer: Neither price axis , nor quantity axis.
Solution : The correct option is Neither price axis, nor quantity axis.
The price (vertical axis) or quantity (horizontal axis) axis will never be touched by a unit price elastic demand curve during its entire length. This implies that if a good or service's price goes up by a particular percentage, the quantity desired will drop by precisely that same amount, resulting in no change in consumers' overall spending. On the other hand, if the price drops by a given amount, the quantity required will go up by the same amount.
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Question : Eutrophication of a water body enhances:
Option 1: Organic matter production
Option 2: Biological oxygen demand
Option 3: Both (1) and (2)
Option 4: Neither (1) nor (2)
Question : Which of the following curve describes the variation of household expenditure on a particular good with respect to household income?
Option 1: Demand curve
Option 2: Engel curve
Option 3: Great Gatsby curve
Option 4: Cost curve
Question : The law of demand states that:
Option 1: if the price of a good increases, the demand for that good decreases
Option 2: if the price of a good increases, the demand for that good increases
Option 3: if the price of a good increases, the quantity demanded of that good decreases
Option 4: if the price of a good increases, the quantity demanded of that good increases
Question : Which of the following is a plant tissue?
I. Meristematic tissue
II. Permanent tissue
Option 1: Only II
Option 2: Both I and II
Option 3: Neither I nor II
Option 4: Only I
Question : Which of the following is a natural acid-base indicator?
I. Litmus
II. Turmeric
Option 2: Only I
Option 4: Both I and II
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