The price theory is otherwise called as
Macro Economic Theory
Micro Economic Theory
Monetory Theory
Price theory
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
The equilibrium price will fall if increase in supply is
Equal to the increase in demand.
Less than the increase in demand
Greater than the increase in demand
The price at which demand and supply are equal is called
Normal price
Support price
Equilibrium price
Money 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
Which of the following determines price of a commodity in a market?
Demand
Supply
Both a & b
Price
Changes in quantity demanded occur
Only when price changes
Due to change of taste
Both A and B
Changes in price
Equilibrium literally means
Balance
Imbalance
Change
No change
The time element in price analysis was introduced by
J.R. Hicks
J.M. Keynes
Alfred Marshall
J.S. Mill
When demand and supply fall proportionately, equilibrium price will
Increase
Decrease
Remain unchanged
