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CUET UG Unit 2A: Demand, Supply and Market Equilibrium — practice questions

Explore 1 free Unit 2A: Demand, Supply and Market Equilibrium questions in CUET UG Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Unit 2A: Demand, Supply and Market Equilibrium questions and exercises with answers

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Demand and supply — true or false?

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Questions
  1. Statement is true
    Yes
    Statement
    An inferior good has a negative income elasticity of demand.
  2. Statement is true
    Yes
    Statement
    Substitute goods have positive cross-price elasticity.
  3. Statement is true
    No
    Statement
    Complementary goods have positive cross-price elasticity.
  4. Statement is true
    Yes
    Statement
    A Giffen good violates the law of demand.

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