support@Free-Braindumps.com
Register Login
Cisco
CompTIA
ISC
EC-Council
EXIN
Fortinet
ITIL
Juniper
Microsoft
VMware
Avaya
SAP
Google
NVIDIA
Salesforce
Amazon
Palo Alto Networks
ISC2
CrowdStrike
Anthropic
All Vendors
  1. Home
  2. Exams
  3. CIMA
  4. CIMAPRA17-BA1-1

Free CIMAPRA17-BA1-1 Exam Braindumps
BA1 - Fundamentals of Business Economics Questions 151–155 (page: 32)

Updated On: 9-Feb-2026
Page 32 of 95
PDF with 468 Questions

Which ONE of the following would tend to make the demand for a product price inelastic?

  1. Expenditure on the product accounts for a large part of total household spending
  2. There are many close substitutes for the product
  3. The product is regarded as a luxury
  4. The price changed a short while ago

Answer(s): D



Assume the demand for cheese is price elastic.
Which of the following describes the effect of a rise in demand for cheese?

  1. Higher price, more sold, fall in revenues of cheese makers
  2. Higher price, less sold, fall in revenues of cheese makers
  3. Higher price, more sold, rise in revenues of cheese makers
  4. Higher price, less sold, rise in revenues of cheese makers

Answer(s): C



If, when the price of a good increases, the total revenue received by the supplier decreases, then

  1. the demand for the good must be price inelastic
  2. the demand for the good must be price elastic
  3. the demand for the good must have unitary elasticity
  4. the supply of the good must be price inelastic

Answer(s): B



A business is selling a good with a price inelastic demand. If it decreases the supply of the good the result will be:

  1. the market price will rise, demand will contract and total revenue will rise
  2. the market price will rise, demand will contract and total revenue will fall
  3. the market price will rise, demand will decrease and total revenue will fall
  4. the market price will fall, demand will increase and total revenue will rise

Answer(s): A



The market demand for a good has a price elasticity of demand of 0.4.
Which of the following statements is correct?

  1. Consumer expenditure will fall as price rises
  2. Producers' incomes will rise as price falls
  3. It is a product with many close substitutes
  4. Total quantity sold will fall as price rises

Answer(s): D



  PDF
Viewing page 32 of 95
Viewing questions 156 - 160 out of 468 questions


Post your Comments and Discuss CIMA CIMAPRA17-BA1-1 exam prep with other Community members:

AI Tutor AI Tutor 👋 I’m here to help!