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Question-1
An increase in both demand and supply in the same proportion results in Equilibrium quantity to ________.
(A)
Increase
(B)
decrease
(C)
remains same
(D)
none of these
Question-2
_________ is the additional utility gets due to consumption of one more unit of the commodity
(A)
Average utility
(B)
marginal utility
(C)
Total utility
(D)
none of these
Question-3
Fall in quantity supplied leads to _________.
(A)
decline in quantity of goods available in the market
(B)
price tends to rise
(C)
fall in the quantity demanded
(D)
All of these
Question-4
Excess supply leads to _________.
(A)
Lack of demand
(B)
fall in price
(C)
rise in price
(D)
Increase in the purchasing power
Question-5
A situation of price rise emerges when __________.
(A)
Excess demand
(B)
limited supply
(C)
increase in the purchasing power
(D)
All of these
Question-6
A decrease in the supply of a commodity results in ___________ shift in demand curve.
(A)
Rightward
(B)
leftward
(C)
parallel
(D)
vertical
Question-7
Left ward shifts in the supply curve result in ________ in the equilibrium price and _________ in the equilibrium quantity.
(A)
Decrease, decrease
(B)
decrease,increase
(C)
increase, decrease
(D)
none of these
Question-8
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-9
Once equilibrium is attained, there is __________ to move away from th situation.
(A)
Always a tendency
(B)
No tendency
(C)
A and B
(D)
further data is required
Question-10
When there is excess supply, Price _________.
(A)
Falls
(B)
rise
(C)
remains constant
(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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