Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. In question No. 220 X can be considered as
a. Essential goods
b. Luxury goods
c. Inferior goods
d. Normal goods
Q. In question No. 222 X can be considered as
a. Essential goods
b. Luxury goods
c. Inferior goods
d. Normal goods
Q. In question No. 224 X can be considered as
a. An essential goods
b. Luxury goods
c. Inferior goods
d. Normal goods
Q. Which of these would lead to increase in quantity supplied at a given price
a. Increase in VAT
b. Increase in excise duty
c. Increase in import duty
d. Reduction in levies
Q. Which of these would lead to decrease in quantity supplied at a given price
a. Decrease in VAT
b. Decrease in excise duty
c. Decrease in import duty
d. Imposition of higher levies