The price at which demand and supply are equal is called _____ .
Normal price
Support price
Equilibrium price
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
Less than decrease in demand
Changes in quantity demanded occur _____________.
Only when price changes
Due to change of taste
Both A and B
Above the equilibrium price, ___________.
S<D
S>D
S=D
At the point of equilibrium, ___________.
Only one price prevails
Quantity demanded = quantity supplied
The demand curve intercepts the supply curve
All the above
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 time element in price analysis was introduced by __________.
J.R. Hicks
J.M. Keynes
Alfred Marshall
J.S. Mill
Government adopts dual marketing to avoid _____________.
Rationing
Private trading
Black marketing
In order to protect the interest of the producers, the Government may fix for commodities ___________.
Minimum price
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