TOPIC 3 - MARKET EQUILIBRIUM

TOPIC 3 - MARKET EQUILIBRIUM

University

23 Qs

quiz-placeholder

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TOPIC 3 - MARKET EQUILIBRIUM

TOPIC 3 - MARKET EQUILIBRIUM

Assessment

Quiz

Other

University

Hard

Created by

thaneshwary Balakirshnan

Used 3+ times

FREE Resource

23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If both demand and supply curves shift rightward then equilibrium quantity increase

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A ___ ___ keeps prices form going any lower and causes a ___ ___ .

Price ceiling; Shortage

Price Ceiling; Surplus

Price Floor; Shortage

Price Floor; Surplus

3.

MULTIPLE SELECT QUESTION

1 min • 1 pt

What are the method to determine equilibrium price and equilibrium quantity ?

Mathematical equation method

Table method

Graphical method

Non of above

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A___ ___keeps prices form going any higher and causes a________ .

Price ceilling; Shortage

Price ceiling; Surplus

Price floor; Shortage

Price floor; Surplus

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The equilibrium price is the price level at which there is no surplus or shortage in the market

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Above graf shows as

Decreased demand

Increased demand

Increased supply

Decreased supply

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Above graf shows as

Decreased supply

Decreased demand

Increased demand

Increased supply

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