The responsiveness of the quantity demand of a commodity to change in the consumer’s income, measured by the proportionate change in quantity divided by the proportionate change in income ?

Related Mcqs:

A market in which money of one nation can be used to purchase the money of other nation is called____________________?

A. Money market B. International market C. Foreign exchange market D. All of these...

Change in quantity demanded is______________________?

A. Upward movement or shift of entire cure. B. Shift of the demand curve to left side C. Movement from one point to the other on the same demand curve D. None...

The total number of people living below a specified minimum level of real income, an international poverty line, is called ?

A. Relative poor B. Real poverty C. Absolute poor D. None...

An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?

A. Increasing cost industry B. Decreasing cost industry C. Declining industry D. None of these...

Group of LDC debtors who join together to bargain as a group with creditors?

A. Debtor’s cartel B. Economic union C. Debtor’s commune D. None...