CA CPT - Basics of General Economics - Demand Analysis

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Question - 1

_____________is the want satisfying power of the product

  • A Demand
  • B Utility
  • C Supply
  • D None of these

Question - 2

______________refers to the quantity of goods or services, those Consumers are willing and able to purchase / buy in a given market, at various prices, in a given period of time.

  • A Supply
  • B Demand
  • C Utility
  • D Surplus

Question - 3

Demand refers to the quantity of goods or services, that _________________ are willing and able to purchase / buy in a given market, at various prices, in a given period of time.

  • A Producers
  • B Investors
  • C Consumers
  • D Government

Question - 4

Demand for a commodity refers to ______________

  • A Desire for the commodity
  • B Need for the commodity
  • C Quantity demanded of that commodity
  • D Quantity of the commodity demanded at a certain price during any particular period of time

Question - 5

On which of the following the Effective Demand for a thing depends?

  • A Desire
  • B Means to purchase (Ability to Buy)
  • C Willingness to use those means
  • D All of these

Question - 6

For want to become an Effective Demand, it must be backed by the________________

  • A Ability to buy the product
  • B Necessity to buy the product
  • C Desire to buy the product
  • D Utility of the product

Question - 7

Which of the following is an important aspect in Demand?

  • A Ability to buy the product
  • B Willingness to spend
  • C Availability of the product in the market
  • D All of the above

Question - 8

In the context of Demand, the availability of money with the Consumer, in order to purchase the Commodity is called____________

  • A Consumer Surplus
  • B Purchasing Power
  • C Cost of Living
  • D Standard of Living

Question - 9

Purchasing Power refers to ________________

  • A Availability of money with the Consumer to purchase the Commodity
  • B Availability of money with the Producer to produce the Commodity
  • C Availability of goods in the market
  • D Availability of substitute goods

Question - 10

Purchasing Power refers to________________

  • A Desire to buy the product
  • B Necessity to buy the product
  • C Ability to buy the product
  • D Utility of the product
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