When supply increases at a rate higher than the rate at which demand increases, then the price will
Increase
Decrease
Remains constant
None of these
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
The time element in price analysis was introduced by
J.R. Hicks
J.M. Keynes
Alfred Marshall
J.S. Mill
In order to protect the interest of the producers, the Government may fix for commodities
Equilibrium price
Minimum price
Normal price
Supply remaining the same, an increase in demand will bring out
A fall in price
A rise in price
No change in price
Equilibrium
The price at which demand and supply are equal is called
Support price
Money price
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
The equilibrium price will fall if increase in supply is
Equal to the increase in demand.
When Government fixes price at a lower level than the equilibrium price, the supply
Equals demand
Exceeds demand
Falls short of demand
Changes in quantity demanded occur
Only when price changes
Due to change of taste
Both A and B
Changes in price
