A distribution is said to be positively skewed, if it
Has a long tail to the left
Has a long tail to the right
Is bimodal
Is bell-shaped
Correct answer is B
No explanation has been provided for this answer.
Given that demand and price remain unchanged an outward shift of the supply curve will lead to
Hoarding
Excess supply
Excess demand
A blank market
Correct answer is B
No explanation has been provided for this answer.
A straight line indifference curve indicates that the two products are
Normal goods
Inferior goods
Perfect substitutes
Close substitutes
Correct answer is C
No explanation has been provided for this answer.
Derived demand is normally used with reference to
Superior goods
Inferior goods
The cost of production
The factors of production
Correct answer is D
No explanation has been provided for this answer.
A commodity will be demanded only if
Consumers income increases
It has no close substitutes
The price is low
It has utility
Correct answer is D
No explanation has been provided for this answer.