NCERT Class 11 Economics MCQ Chapter 13 Market Equilibrium Solutions to each chapter is provided in the list so that you can easily browse through different chapters NCERT Class 11 Economics MCQ Chapter 13 Market Equilibrium Question Answer and select need one. NCERT Class 11 Economics MCQ Chapter 13 Market Equilibrium Solutions Download PDF. NCERT Class 11 Introductory Microeconomics Multiple Choice Solutions.
NCERT Class 11 Economics MCQ Chapter 13 Market Equilibrium
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. NCERT Class 11 Economics Objective Type Solutions are part of All Subject Solutions. Here we have given CBSE Class 11 Economics Multiple Choice Question and Answer, HS First Year Economics MCQ Solutions for All Chapters, You can practice these here.
Market Equilibrium
Chapter: 13
PART – (B) INTRODUCTORY MICROECONOMICS
MCQ
1. Which of the following factors determines the equilibrium price?
(a) Demand for commodities.
(b) Supply of commodities.
(c) Both (a) and (b).
(d) None of the above.
Ans: (c) Both (a) and (b).
2. Price of a commodity is determined at a point where:
(a) Demand exceeds supply.
(b) Supply exceeds demand.
(c) Demand equals supply.
(d) None of these.
Ans: (c) Demand equals to supply.
3. At a price above the equilibrium price, there is:
(a) Excess supply.
(b) Excess demand.
(c) Price ceiling.
(d) Price flooring.
Ans: (a) Excess supply.
4. At a price below the equilibrium price, there is:
(a) Excess supply.
(b) Excess demand.
(c) Price ceiling.
(d) Price flooring.
Ans: (b) Excess demand.
5. ____________ plays a dominant role in determining equilibrium price in a short period.
(a) Demand.
(b) Supply.
(c) Both demand and supply.
(d) None of the above.
Ans: (a) Demand.
6. ____________ plays a dominant role in determining equilibrium price in the long period.
(a) Demand.
(b) Supply.
(c) Both demand and supply.
(d) None of the above.
Ans: (b) Supply.
7. Equilibrium price and output changes when:
(a) Demand changes.
(b) Supply changes.
(c) Both demand and supply changes.
(d) All of the above.
Ans: (d) All of the above.
8. When demand increases with no change in supply, equilibrium price _____________ and quantity _______________.
(a) Rises, rises.
(b) Rises, falls.
(c) Falls, falls.
(d) Falls, rises.
Ans: (a) Rises, rises.
9. When demand decreases and there is no shift in supply, the equilibrium price _____________ and quantity ______________.
(a) Rises, rises.
(b) Rises, falls.
(c) Falls, falls.
(d) Falls, rises.
Ans: (c) Ralls, falls.
10. A rightward shift of the demand curve leads to:
(a) Increase in price alone.
(b) Increase in quantity alone.
(c) Increase in both price and quantity.
(d) Increase in quantity and decrease in price.
Ans: (c) Increase in both price and quantity.
11. When supply increases and there is no change in demand, then equilibrium price _____________ and quantity _____________.
(a) Falls, rises.
(b) Rises falls.
(c) Rises, rises.
(d) Falls, falla.
Ans: (a) Falls, rises.
12. When supply decreases and there is no change in demand, then equilibrium price ____________ and quantity ____________.
(a) Falls, rises.
(b) Rises, falls.
(c) Rises, rises.
(d) Falls, falls.
Ans: (b) Rises, falls.
13. When both demand and supply increases in the same proportion then equilibrium price will:
(a) Remain the same.
(b) Rise.
(c) Fall.
(d) None of the above.
Ans: (a) Remain the same.
14. When both demand and supply decrease in the same proportion, then the equilibrium quantity will:
(a) Remain the same.
(b) Rise.
(c) Fall.
(d) None of the above.
Ans: (c) Fall.
15. When increase in demand is more than increase in supply, then equilibrium price will:
(a) Remain the same.
(b) Rise.
(c) Fall.
(d) None of the above.
Ans: (b) Rise.
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