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4881

An increase in rice harvest, all things being equal, may cause

 

  • A. price to increase substantially
  • B. farmer's incomes to be more than doubled
  • C. price to fall substantially
  • D. demand to fall substantially
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4882

The demand for wood and labour is an example of

 

  • A. derived demand
  • B. effective demand
  • C. competitive demand
  • D. complementary demand
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4883

What will be the reaction of consumers in a market if there is a fall in the price of the substitute of commodity X?

 

  • A. Demand for the substitute of commodity X will decrease
  • B. Demand for commodity X will decrease
  • C. Supply of both commodity X and its substitute will increase
  • D. Price of commodity X will increase
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4884

An increase in market supply is caused by the following factors except

 

  • A. an increase in the price of the commodity
  • B. a reduction in the cost of raw materials
  • C. a favourable weather condition
  • D. an improvement in innovation and technology
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4885

The coefficient of price elasticity of supply of land is usually

 

  • A. less than one
  • B. one
  • C. zero
  • D. greater than one
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