Market equilibrium is achieved when ...

MARKET EQUILIBRIUM

Quiz
•
Education
•
University
•
Hard
SHAFIKAH SAHARUDDIN
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
the quantity demanded is equal to the number of buyers.
the price is equal to the quantity.
the quantity demanded is equal to the quantity supplied.
Economic grows.
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
When the market for goods is disequilibrium,
the quantity demanded equals to quantity supplied.
there is no tendency for the price to increase or decrease.
there is a tendency for the price to increase or decrease.
All of the above.
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
When the government imposes a floor price on durian, this will result in ...
a fall of the demand of durian.
an increase in the quality of durian.
surplus of durian.
shortage of durian.
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The imposition of price ceiling in the market will cause quantity demanded to be ...
lesser than quantity supplied.
greater than quantity supplied.
equal to quantity supplied.
All of the above.
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Price control can lead to waste of resources if .....
the maximum price is above the equilibrium price.
the maximum price is below the equilibrium price.
the minimum price is above the equilibrium price.
the minimum price is below the equilibrium price.
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which of the following measures will assist government in trying to control the increase price of chickens during festive season?
Increase in taxes
Price ceiling
Decrease in subsidies
Price floor
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Which one of the following is the advantage of the price ceiling?
The resources are fully utilized.
The income of the producer is protected.
The unemployment rate will be reduced.
Consumer enjoys goods and services at lower price.
Create a free account and access millions of resources
Similar Resources on Wayground
10 questions
Human Resource Planning

Quiz
•
University
10 questions
ECO557 - QUIZ 2

Quiz
•
University
12 questions
BIE1009 - Week 11

Quiz
•
University
11 questions
DEMAND AND SUPPLY

Quiz
•
University
10 questions
Topic 2: Demand & Supply

Quiz
•
University
15 questions
PE 1.1

Quiz
•
University
10 questions
COST OF PRODUCTION, SHORT AND LONG RUN

Quiz
•
University
5 questions
MBF Quiz

Quiz
•
University
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade