When Government fixes price at a lower level than the equilibrium price, the supply
Equals demand
Exceeds demand
Falls short of demand
None of these
Changes in quantity demanded occur
Only when price changes
Due to change of taste
Both A and B
Changes in price
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
Equilibrium literally means
Balance
Imbalance
Change
No change
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
The price theory is otherwise called as
Macro Economic Theory
Micro Economic Theory
Monetory Theory
Price theory
In order to protect the interest of the producers, the Government may fix for commodity's
Equilibrium price
Minimum price
Maximum price
Which of the following determines price of a commodity in a market?
Demand
Supply
Both a & b
Price
The time element in price analysis was introduced by
J.R. Hicks
J.M. Keynes
Alfred Marshall
J.S. Mill
The price at which demand and supply are equal is called
Normal price
Support price
Money price
