Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

When slope of the demand curve is zero, its elasticity of demand is __________.

Income received without providing any good or service in return is called ________.

Price Elasticity of Supply is always _______ due to direct relationship between price and quantity supplied.

__________ refers to the situation in which market demand is more than market supply of a commodity at a given price.

A consumer demands more quantity of a commodity when price decreases because _______ becomes more than price.

__________ means "If other things remaining equal".

_________ is an economic agent who consumes final goods and services to fulfil his basic needs.

If price of commodity is zero, the consumer will consume till Marginal utility becomes ________.

In India, the Constitution requires the Central Government to prepare 'Annual Financial Statement', i.e. government budget for the country as a whole. In India, ________ department of government prepares annual budget statement.

1. RBI.
2. income tax.
3. accounts.
4. finance.

A monopoly firm has market power and it is a ________.