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Economics
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Question-1
The amount that is brought and sold at the equilibrium price is called _________.
(A)
Disequilibrium quantity
(B)
Equilibrium quantity
(C)
Inequilibrium quantity
(D)
None of these
Question-2
A situation of price rise emerges when __________.
(A)
Excess demand
(B)
limited supply
(C)
increase in the purchasing power
(D)
All of these
Question-3
Right ward shifts in demand curve results in increase in equilibrium _________.
(A)
Price only
(B)
Quantity only
(C)
price and quantity
(D)
None of these
Question-4
___________ have no role in the competitive market in the determination of price
(A)
producers
(B)
sellers
(C)
consumers
(D)
none of these
Question-5
The next best alternative goods that is given up to produce a goods is known as ______cost.
(A)
Opportunity
(B)
money
(C)
Implicit
(D)
explicit
Question-6
An increase in supply of a commodity results in _________ shift in demand curve.
(A)
rightward
(B)
leftward
(C)
parallel
(D)
vertical
Question-7
Excess supply leads to _________.
(A)
Lack of demand
(B)
fall in price
(C)
rise in price
(D)
Increase in the purchasing power
Question-8
An increase in demand is greater than the increase in supply, the equilibrium price would _______.
(A)
Increase
(B)
decrease
(C)
remains same
(D)
none of these
Question-9
The important feature of equilibrium is __________.
(A)
Change in the price
(B)
change in quantity demanded
(C)
demand curve intersects supply curve
(D)
Change in quantity supplied.
Question-10
A decrease in demand results in _________ shift in demand curve.
(A)
Rightward
(B)
leftward
(C)
parallel
(D)
Vertical
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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