Economics Market Equilibrium Test 1 Mcqs Online Preparation 0 Market Equilibrium Test 1 Mcqs Online Preparation 1. The price and sales of sugar both increase. What could be the cause of this ?A. A decrease in the tax on sugar B. A decrease in the incomes of the consumers C. An increase in the wages of workers in the sugar industryD. An increase in the price of sugar substitutes Loading... 2. When price is below equilibrium level, there will be:A. Supply curve will shiftB. Surplus commodity in the market C. Shortage of commodity in the marketD. Demand curve will shift Loading... 3. If equilibrium price rises but equilibrium quantity remains unchanged, the cause is:A. Supply and demand both decrease equallyB. Supply and demand both increase equally C. Supply increases and demand decreasesD. Supply decreases and demand increases Loading... 4. Ten rupees is the equilibrium price for good X. If government fixes price at Rs. 5, there is:A. Excess supplyB. A surplusC. LossD. A shortage Loading... 5. In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then:A. Price will riseB. Quantity risesC. Price remains sameD. Price will fall Loading... 6. Equilibrium:A. Is a state that can never be achieved in economics B. Is an important idea for predicting economic changesC. Is an unstable conditionD. Is a stable condition Loading... 7. A rise in supply and demand in equal proportion will result in:A. No change in equilibrium price and increase in equilibrium quantityB. Increase in equilibrium price and decrease in equilibrium quantityC. Increase in equilibrium price and no change in equilibrium quantityD. Decrease in equilibrium price and increase in equilibrium quantity Loading... 8. Price of a product is determined in a free market:A. By the governmentB. By supply of the productC. By demand for the product D. By both demand and supply Loading... 9. An increases in the price of mutton provides information which:A. Tells consumers to buy more muttonB. Tells producers to produce more muttonC. Provides no informationD. Tells consumers to buy more chicken Loading... 10. A decrease in demand causes the equilibrium price to:A. RiseB. FallC. Remain constantD. Indeterminate Loading... Loading... Related PostsEquilibrium of National income Test 01 Preparation OnlineEquilibrium of firm Perfect Competition and Monopoly Test 01…Market and Revenue Curves Test 01 Mcqs Preparation OnlinePhysics MCQs Online Test 02 for PreparationPhysics MCQs Online Test 01 for PreparationPhysics MCQs For Entry Test 01 Online PreparationPhysics MCQs For Entry Test 2 Online PreparationPakistan Studies MCQs Test 01 Online for PreparationPakistan Studies MCQs Test 02 Online for PreparationPakistan Studies MCQs Test 03 Online for Preparation Continue Reading Previous Money and Value of Money Test 8 Mcqs Online PreparationNext National Income Test 1 Online Mcqs Preparation More Stories Economics Economics Quiz 04 Preparation Online 0 Economics Economics Quiz 03 Preparation Online 0 Economics Economics Quiz 02 Preparation Online 0 Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ
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