JAIIB Exam 2025 – IE&IFS Important Questions MCQs Quiz-12

24/01/2025

Table of Contents

JAIIB Exam 2025 IE&IFS Important Questions MCQs Quiz-12

JAIIB Exam Quiz 2025: The JAIIB exam is scheduled for 2025 by IIBF. Here, we are providing JAIIB IE&IFS MCQ-based quizzes on a regular basis. You can attempt the quizzes regularly to prepare for the upcoming JAIIB exam. The quizzes will be provided module-wise and unit-wise. You can attempt the JAIIB IE&IFS quizzes from the links below and improve your preparation by practicing regularly. These quizzes will help you boost your score in the JAIIB exam and guide you to clear the exam on your first attempt.

Q.1. The relationship between market price and quantity demanded is:
(a) Positive (Directly related)
(b) Negative (Inversely related)
(c) Neutral (No relationship)
(d) Variable (Sometimes positive, sometimes negative)

Q.2 The graphical representation of the relationship between price and quantity bought is called:
(a) Supply Curve
(b) Production Possibility Frontier
(c) Demand Curve
(d) Indifference Curve

Q 3 Which of the following scenarios BEST exemplifies the Law of Demand?
(a) A popular smartphone brand releases a new model with advanced features, causing a surge in demand despite a higher price.
(b) Due to a sudden heatwave, the demand for air conditioners increases, leading to retailers raising prices.
(c) After a significant price reduction on a particular brand of coffee, consumers purchase more of that brand,while sales of other coffee brands remain relatively stable.
(d) A government subsidy lowers the price of electric vehicles, but consumer demand remains unchanged

Q.4 The Law of Diminishing Marginal Utility states that:
(a) As the price of a good increases, the quantity demanded decreases.
(b) As a consumer consumes more of a good, the additional satisfaction from each extra unit decreases.
(c) As production increases, the cost of producing each additional unit decreases.
(d) As income increases, the demand for normal goods increases

Q.5. Which of the following describes a shift in the demand curve when the price of the good remains constant?
a) Movement along the demand curve
b) A rightward shift for a decrease in demand
c) A leftward shift for an increase in demand
d) A rightward shift for an increase in demand

Q.6 According to the concept of Veblen goods, what happens to the demand for a commodity when its price increases?
a) Demand decreases, as per the law of demand.
b) Demand remains constant.
c) Demand increases due to the perception of higher value.
d) Demand fluctuates erratically.

Q.7 What is the key characteristic of Giffen goods that distinguishes them from other types of goods?
a) Their demand decreases when their price increases.
b) They are considered luxury items.
c) Their demand increases when their price increases.
d) Their demand remains constant regardless of price changes.

Q.8 What does a supply schedule represent?
a) The various quantities of a commodity that consumers are willing to buy at different price levels.
b) The various quantities of a commodity that are supplied by a supplier at different price levels over a period of time.
c) The relationship between the price of a commodity and the demand for it.
d) The total market demand for a commodity.

Q.9 In a market at equilibrium, which of the following conditions is true?
a) There is a surplus of goods, leading to downward pressure on prices.
b) There is a shortage of goods, leading to upward pressure on prices.
c) The quantity that buyers want to buy is equal to the quantity that sellers want to sell.
d) Prices are constantly fluctuating due to imbalances in supply and demand.

Q.10 Which of the following scenarios describes a movement along the demand curve for a specific good?
a) An increase in consumer income leads to a higher quantity demanded at every price level.
b) A decrease in the price of a substitute good causes consumers to buy less of the original good at every price level.
c) A change in consumer tastes and preferences results in a lower quantity demanded at every price level.
d) A decrease in the price of the good itself leads to an increase in the quantity demanded.

Q.11 The downward slope of a typical demand curve illustrates which of the following economic principles?
a) As income increases, consumers buy more of a good.
b) As the price of a good increases, the quantity demanded decreases.
c) As the price of a good increases, the quantity supplied increases.
d) As the price of a substitute good decreases, the demand for the original good increases

Q.12 Which of the following is not a force behind demand curve?
a. Size of the market
b. Average income
c. Price of related goods
d. Cost of Production

Q.13 Which of the following is not a factor behind supply ?
a. Price inputs and technology advancement
b. Government policy
c. Taste & preference
d. Price of related goods

Q.14 Which of the following scenarios would definitely result in a shift of the market supply curve for gasoline to the left (decrease in supply)?
a) A decrease in the price of crude oil, a major input in gasoline production.
b) An increase in the price of gasoline, leading consumers to reduce their purchases.
c) The implementation of stricter environmental regulations requiring more expensive refining processes.
d) A successful advertising campaign promoting the fuel efficiency of hybrid cars.

Q.15 What is the slope of supply curve
a. Downward
b. Upward
c. Horizontal
d. Stagnant

Answer:

Q1: B
Q2: C
Q3: C
Q4: B
Q5: D
Q6: C
Q7: C
Q8: B
Q9: C
Q10: D
Q11:B
Q12:D
Q13:B
Q14:C
Q15:B

For Detailed solution with an explanation watch below video