Question : Cross-demand expresses the functional relationship between

Option 1: demand and price of related commodities

Option 2: demand and income

Option 3: demand and price

Option 4: demand and supply

Question : Which of the following is a macroeconomic indicator?

Option 1: Consumer price index (CPI)

Option 2: Price elasticity of demand

Option 3: Market equilibrium price

Option 4: Marginal utility

Question : Demand price elasticity denotes:

Option 1: Change in demand
 

Option 2: Change in demand due to change in price

Option 3: Change in Price

Option 4: Change in real income

Question : When all other factors influencing demand are held constant, the cross elasticity of demand quantifies how much the quantity required of a good responds to changes in the .

Option 1: Income of the consumer

Option 2: Price of the commodity

Option 3: Price of the other commodity

Option 4: None of the above

Question : The elasticity of demand is the degree of responsiveness of demand for a commodity to a ___________.

Option 1: Change in consumer's wealth

Option 2: Change in the price of substitutes

Option 3: Change in consumer's taste

Option 4: Change  its price