a2zinterviews

1.	_____ is foundation for law of demand.
	A.  Gossen’s law
	B.  Law of supply
	C.  Law of diminishing marginal utility
	D.  Law of equi-marginal utility

2.	Law of demand establishes _____
	A. Positive relationship between price and quantity
	B. Inverse relationship between price and quantity
	C. Both
	D. None

3.	_____ introduced the concept of elasticity of demand.
	A.  Ferguson
	B.  Alfred Marshall
	C.  Adam Smith
	D.  Keynes

4.	_____ arise due to too much concentration and localization of industries.
	A.  Internal diseconomies
	B.  External diseconomies
	C.  External economies
	D.  Internal economies

5.	_____ is the main factor affecting demand and supply.
	A.  Consumption
	B.  Investment
	C.  Equilibrium
	D.  Price