| 1 |
A producers has one thousand tons of rice to be offered for sale at a certain price in future, it will be called. |
- A. Supply of output
- B. Production
- C. Buffer stock
- D. Stock
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| 2 |
Perfectly inelastic supply curve is: |
- A. Parallel to vertical axis
- B. Parallel to horizontal axis
- C. Rises upward to the right
- D. Falls downward to the right
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| 3 |
Market equilibrium means |
- A. number of buyers and sellers are equal
- B. demand and supply of commodity are equal
- C. no price is changing
- D. prices rise very slowly
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| 4 |
Demands and supply curves cross at |
- A. always at 60 degree
- B. at 90 degree
- C. at equal angle
- D. at any angle
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| 5 |
If equilibrium price rises but equilibrium quantity is unchanged, the cause is |
- A. supply and demand both increase equally
- B. supply and demand decrease equally
- C. supply curve is vertical and demand increases
- D. supply increases and demand is same
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| 6 |
Ten rupees is the equilibrium price for good Z. If govt. fixes price at Rs. 5, there is |
- A. a shortage
- B. a surplus
- C. excess supply
- D. loss
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| 7 |
A decrease in demand causes the equilibrium price to |
- A. rise
- B. fall
- C. remain constant
- D. indeterminate
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| 8 |
A change in price brings in quantity supplied. it will be. |
- A. Rise in supply
- B. Contraction of supply
- C. Fall in supply
- D. Extension of supply
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| 9 |
Market Price of Perishable |
- A. Commodities
- B. Utility
- C. Consumer
- D. None of these
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| 10 |
A rise in supply and demand in equal proportion will result in |
- A. increase in equilibrium price and decrease in equilibrium quantity
- B. decreases in equilibrium price and increases in equilibrium quantity
- C. no change in equilibrium price and increases in equilibrium quantity
- D. increases in equilibrium price and no change in equilibrium quantity
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