The support price fixed by Government is generally __________.
Equal to the equilibrium price
Lower than the equilibrium price
Higher than the equilibrium price
None of these
Above the equilibrium price, ___________.
S<D
S>D
S=D
In the long period, supply can be changed by changing _________.
All factors change
Only variable factor changes
Only fixed factor changes
Variable and fixed factor
In order to protect the interest of the producers, the Government may fix for commodity's _________.
Equilibrium price
Minimum price
Maximum price
When demand and supply fall proportionately, equilibrium price will ____________.
Increase
Decrease
Remain unchanged
Equilibrium literally means _____.
Balance
Imbalance
Change
The equilibrium price will not change when increase in supply is
Less than the increase in demand
Greater than the increase in demand
Equal to the increase in demand
Less than decrease in demand
Which of the following cause black marketing?
Fixation of maximum price by Government
Fixation of minimum price by Government
Fixation of support price by Government
Supply remaining the same, an increase in demand will bring out
A fall in price
A rise in price
No change in price
Slowly rise in price
Changes in quantity demanded occur _____________.
Only when price changes
Due to change of taste
Both A and B
