Economics Market Equilibrium Test 1 Mcqs Online Preparation Market Equilibrium Test 1 Mcqs Online Preparation 1. A decrease in demand causes the equilibrium price to:A. IndeterminateB. RiseC. Remain constantD. Fall Loading... 2. If equilibrium price rises but equilibrium quantity remains unchanged, the cause is:A. Supply decreases and demand increasesB. Supply and demand both increase equally C. Supply increases and demand decreasesD. Supply and demand both decrease equally Loading... 3. A rise in supply and demand in equal proportion will result in:A. Increase in equilibrium price and decrease in equilibrium quantityB. Decrease in equilibrium price and increase in equilibrium quantityC. No change in equilibrium price and increase in equilibrium quantityD. Increase in equilibrium price and no change in equilibrium quantity Loading... 4. Ten rupees is the equilibrium price for good X. If government fixes price at Rs. 5, there is:A. LossB. Excess supplyC. A shortage D. A surplus Loading... 5. The price and sales of sugar both increase. What could be the cause of this ?A. An increase in the wages of workers in the sugar industryB. A decrease in the tax on sugar C. A decrease in the incomes of the consumers D. An increase in the price of sugar substitutes Loading... 6. Price of a product is determined in a free market:A. By demand for the product B. By the governmentC. By supply of the productD. By both demand and supply Loading... 7. An increases in the price of mutton provides information which:A. Tells consumers to buy more muttonB. Provides no informationC. Tells consumers to buy more chickenD. Tells producers to produce more mutton Loading... 8. Equilibrium:A. Is an unstable conditionB. Is an important idea for predicting economic changesC. Is a stable conditionD. Is a state that can never be achieved in economics Loading... 9. When price is below equilibrium level, there will be:A. Demand curve will shiftB. Supply curve will shiftC. Shortage of commodity in the marketD. Surplus commodity in the market Loading... 10. In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then:A. Price will riseB. Price will fall C. Price remains sameD. Quantity rises 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 01 for PreparationPhysics MCQs Online Test 02 for PreparationAgriculture Information MCQs Test 11 For Online Preparation Continue Reading Previous Money and Value of Money Test 8 Mcqs Online PreparationNext National Income Test 1 Online Mcqs Preparation Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ