CBSE  /  Class 11  /  Economics  /  Market Equilibrium

  • 1. 
    There is inverse relation between demand and price of goods in:

  • Only monopoly
  • Only monopolistic competition
  • Both (a) and (b)
  • Only perfect competition.

  • 2. 
    According to which economist “Price of a commodity is determined by the forces of demand and supply”:

  • Jevons
  • Valros
  • Marshall
  • None of these.

  • 3. 
    Not a condition of equilibrium of monopoly firm:

  • Average revenue = Marginal revenue
  • Marginal revenue = Marginal cost
  • Marginal cost curve cuts marginal revenue curve from downwards.
  • Both (b) and (c).

  • 4. 
    Market price is found in:

  • Short period market
  • Long period market
  • Very long period market
  • None of these.

  • 5. 
    Demand curve of a firm is perfectly elastic in:

  • Perfect competition
  • Monopoly
  • Monopolistic competition
  • Oligopoly.

  • 6. 
    Administrative price is:

  • Price ceiling
  • Price floor
  • Both (a) and (b)
  • None of these.

  • 7. 
    Minimum support price of wheat is called:

  • Price ceiling
  • Price floor
  • Market price
  • Equilibrium price.

  • 8. 
    Which of the following is the component of instrument pricing:

  • Rent
  • Wages
  • Interest
  • None of these.

  • 9. 
    Which factors help in the determination of equilibrium price:

  • Demand
  • Supply
  • Both (a) and (b)
  • None of the above.

  • 10. 
    Which among the following statement is not true:

  • Demand of labor is done by the producer
  • Demand of labor depends open its productivity
  • Marginal productivity of a labor is his maximum wages
  • All of the above.
Report Question
warning
Practice More On Market Equilibrium
Quiz 1 Quiz 2 Quiz 3 Quiz 4 Quiz 5 Quiz 6
access_time
  Time