PUNJAB GROUP OF COLLEGES

Subject: Economic Analysis Round Test-1 Time: 90 mint

Class: ADP-I Date: 01-10-2021 Marks: 50
Name: Roll No. Section:

Note: Attempt all questions.

Question No.1

Answers the short questions. 2*5 =10

i. What is mean by movement of demand curve?

ii. What is the formula of income elasticity?
iii. Define market.
iv. Define fall of demand?
v. Define market clearing quantity.

Question No.2
How would you measure price elasticity of demand? Discuss in detail with the help of schedule and
diagram. (20)

Question No.3
Discuss the effects on market equilibrium. (20)
i. Increase in demand is equal to increase in supply.
ii. Decrease in demand is greater than increase in supply.
iii. Increase in demand but no change in supply.
iv. Decrease in supply is equal to decrease in demand.