NCERT Class 9 Social Science MCQ Chapter 9 The Price Puzzle: What Drives the Market Solutions English Medium As Per New Syllabus. NCERT Class 9 Social Science MCQ Chapter 9 The Price Puzzle: What Drives the Market Notes to each chapter is provided in the list so that you can easily browse throughout different chapter NCERT Class 9 Social Science MCQ Question Answer Download PDF and select needs one. CBSE Class 9 Social Science Multiple Choice Solutions.
NCERT Class 9 Social Science MCQ Chapter 9 The Price Puzzle: What Drives the Market
Also, you can read the CBSE book online in these sections Solutions by Expert Teachers as per (CBSE) Book guidelines. NCERT Class 9 Social Science Objective Type Solutions. These solutions are part of NCERT All Subject Solutions. Here we have given NCERT Class 9 Social Science MCQs in English Medium Solutions for All Subject, You can practice these here.
The Price Puzzle: What Drives the Market
Chapter – 9
| Part – I: Economics |
| MCQ |
1. What is meant by demand in economics?
(i) The quantity produced by firms.
(ii) The willingness and ability to buy a product at a particular price.
(iii) The total stock available in the market.
(iv) The amount of profit earned by sellers.
Ans: (ii) The willingness and ability to buy a product at a particular price.
2. According to the Law of Demand, when the price of a product increases, the quantity demanded generally
(i) Increases.
(ii) Remains the same.
(iii) Decreases.
(iv) Doubles.
Ans: (iii) Decreases.
3. Which of the following is essential for demand to exist?
(i) Desire alone.
(ii) Purchasing power alone.
(iii) Desire along with purchasing power.
(iv) High market price.
Ans: (iii) Desire along with purchasing power.
4. The graphical representation of a demand schedule is called the
(i) Supply curve.
(ii) Demand curve.
(iii) Cost curve.
(iv) Utility curve.
Ans: (ii) Demand curve.
5. Market demand is obtained by
(i) Adding the demand of all consumers.
(ii) Adding the supply of all sellers.
(iii) Dividing demand by population.
(iv) Subtracting supply from demand.
Ans: (i) Adding the demand of all consumers.
6. Tea and coffee are examples of
(i) Public goods.
(ii) Complementary goods.
(iii) Substitute goods.
(iv) Capital goods.
Ans: (iii) Substitute goods.
7. Smartphones and earphones are examples of
(i) Inferior goods.
(ii) Complementary goods.
(iii) Substitute goods.
(iv) Public goods.
Ans: (ii) Complementary goods.
8. Which factor generally increases the demand for many goods even when prices remain unchanged?
(i) Fall in income.
(ii) Rise in income.
(iii) Increase in production cost.
(iv) Decrease in technology.
Ans: (ii) Rise in income.
9. Demand for sweaters usually increases during
(i) Summer.
(ii) Winter.
(iii) Monsoon.
(iv) Spring.
Ans: (ii) Winter.
10. If consumers expect prices to rise in the future, they are likely to
(i) Delay purchases.
(ii) Buy immediately.
(iii) Stop buying.
(iv) Reduce demand permanently.
Ans: (ii) Buy immediately.
11. Supply refers to
(i) Goods already sold.
(ii) Quantity sellers are willing and able to offer at a given price.
(iii) Total profit earned by firms.
(iv) Demand created by consumers.
Ans: (ii) Quantity sellers are willing and able to offer at a given price.
12. According to the Law of Supply, when price increases, quantity supplied generally
(i) Decreases.
(ii) Remains constant.
(iii) Increases.
(iv) Becomes zero.
Ans: (iii) Increases.
13. The graph showing supply at different prices is called the
(i) Demand curve.
(ii) Supply curve.
(iii) Revenue curve.
(iv) Utility curve.
Ans: (ii) Supply curve.
14. Market supply is
(i) Supply by one producer.
(ii) Average supply of producers.
(iii) Total supply of all sellers in the market.
(iv) Supply of imported goods only.
Ans: (iii) Total supply of all sellers in the market.
15. Which factor helps increase market supply?
(i) Improved technology.
(ii) Fewer sellers.
(iii) High production cost.
(iv) Poor weather.
Ans: (i) Improved technology.
Buy Now