B.COM Eco-1 (Makert Demand & Supply) MCQ's




Question 1 :
_____ refers to the total demand for a commodity by all buyer in the market.

  1. Individual supply
  2. market supply
  3. Market demand
  4. Individual demand
  

Question 2 :
The market demand schedule shows an _____ relationship between price and demand.

  1. direct
  2. No
  3. inverse
  4. none of these
  

Question 3 :
The market demand curve slopes _____.

  1. upwards
  2. Horizontal
  3. Vertical
  4. downward
  

Question 4 :
_____ refers to the total quantities of commodity offered for sale by all in producers.

  1. equilibrium price
  2. Market demand
  3. None of these
  4. market supply
  

Question 5 :
When the market schedule is plotted on a graph we get _____ curve.

  1. Equilibrium point
  2. Market demand
  3. None of these
  4. market supply
  

Question 6 :
The market supply curve slopes _____ to the right.

  1. downward
  2. upwards
  3. Vertical
  4. Horizontal
  

Question 7 :
The _____ is determined by the interaction of market demand and supply.

  1. market price
  2. equilibrium point
  3. none of these
  

Question 8 :
The point at which quantity demand equals to supply is the _____.

  1. equilibrium point
  2. none of these
  

Question 9 :
With an increase in supply, demand remaining unchanged, the equilibrium price _____.

  1. raised
  2. falls
  3. constant
  4. none of these
  

Question 10 :
Shift in the supply curve to the left will _____ the equilibrium price.

  1. no effect
  2. increase
  3. decreased
  4. none of these
  

Question 11 :
Shift in the supply curve to the left will increase the _____.

  1. Market demand
  2. equilibrium price
  3. Market supply
  4. none of these
  

Question 12 :
The market demand schedule shows a direct relationship between price and quantity demanded.

  1. TRUE
  2. FALSE
  

Question 13 :
The market supply curve slopes upwards to the right.

  1. TRUE
  2. FALSE
  

Question 14 :
The equilibrium price will change wherever there is a change in income only.

  1. TRUE
  2. FALSE
  

Question 15 :
With decrease in demand, supply remaining unchanged, the equilibrium price falls.

  1. TRUE
  2. FALSE
  

Question 16 :
With an increase in supply, demand remaining unchanged, the equilibrium price rises.

  1. TRUE
  2. FALSE
  

Question 17 :
Shift in the supply curve to the left will increase the equilibrium price

  1. TRUE
  2. FALSE
  

Question 18 :
Shift in the demand curve to the left will increase the equilibrium price.

  1. TRUE
  2. FALSE
  

Question 19 :
The market demand curve slopes _____ from left to right.

  1. downward
  2. upward
  3. horizontal
  4. vertical
  

Question 20 :
The market supply schedule shows _____ relationship between price and quantity supplied.

  1. inverse
  2. direct
  3. no
  4. none of these
  

Question 21 :
The point at which the quantity demanded equals supplied is the _____.

  1. total supply
  2. total demand
  3. equilibrium point
  4. none of these
  

Question 22 :
A case of increase in demand, supply remaining unchanged, the equilibrium price _____.

  1. rises
  2. falls
  3. constant
  4. none of these
  

Question 23 :
A case of decrease in supply, demand remaining unchanged, the equilibrium price _____.

  1. falls
  2. rises
  3. constant
  4. None of these
  

Question 24 :
As price _____ , quantity demanded decreases and quantity supplies increases.

  1. decreases
  2. increases
  3. remain constant
  4. None of these
  

Question 25 :
Market _____ is derived by adding up all the individual demand.

  1. demand
  2. supply
  3. price
  4. none of these
  

Question 26 :
Which of the following shows the relationship between the price of a good and the amount of the good that consumers want at that price?

  1. Supply curve
  2. Demand curve
  3. Supply schedule
  4. Production possibilities frontier
  

Question 27 :
The market clearing price is also called the ________.

  1. current price
  2. prevailing price
  3. equilibrium price
  4. None of the above
  
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