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Economics
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Question-1
An increase in both demand and supply in the same proportion results in price ___________.
(A)
increase
(B)
decrease
(C)
remains same
(D)
none of these
Question-2
Sellers incur losses if they sell the commodity below the _________.
(A)
Average price
(B)
Marginal cost
(C)
Total cost
(D)
none of these
Question-3
The state of balance is known as _____________.
(A)
Disequilibrium.
(B)
Equilibrium
(C)
Inequilibrium
(D)
None of these
Question-4
The Maximum price that the consumer would like to pay for the good would be equal to ___________.
(A)
Marginal utility
(B)
Average utility
(C)
total utility
(D)
None of these
Question-5
When quantity demand is not equal to quantity supplied is a condition of _________.
(A)
Disequilibrium
(B)
equilibrium
(C)
Inequilibrium
(D)
none of these
Question-6
Which one is not the feature of an equilibrium situation ________.
(A)
No change in the price
(B)
no change in quantity demanded
(C)
demand curve intersects supply curve
(D)
rise in price levels.
Question-7
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-8
Excess supply leads to _________.
(A)
Lack of demand
(B)
fall in price
(C)
rise in price
(D)
Increase in the purchasing power
Question-9
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-10
The forces working in the opposite directions are brought into balance through ____________.
(A)
Disequilibrium.
(B)
Equilibrium
(C)
Inequilibrium
(D)
None of these
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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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