Buffer Stocks Quiz

Buffer Stocks Quiz

12th Grade

42 Qs

quiz-placeholder

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Buffer Stocks Quiz

Buffer Stocks Quiz

Assessment

Quiz

Other

12th Grade

Easy

Created by

J Goodman

Used 1+ times

FREE Resource

42 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a buffer stock scheme?

To increase the supply of a commodity indefinitely

To stabilize the price of a commodity

To decrease the demand for a commodity

To permanently remove excess supply from the market

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a buffer stock scheme operate?

By fixing the price of a commodity at a certain level

By only buying the commodity when there is a shortage

By buying excess supply of the commodity when the market is oversupplied and releasing it when supply falls short

By subsidizing the production of a commodity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a buffer stock scheme?

To increase the price of a commodity

To stabilize the price and supply of a commodity

To decrease the supply of a commodity

To privatize the production of a commodity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a buffer stock scheme involve the creation of?

A deficit

A surplus

A stockpile or buffer stock

A monopoly

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a buffer stock scheme operate?

By selling a commodity when there is a high demand

By buying a commodity when there is a low supply

By buying excess supply and releasing it when supply is low

By permanently storing excess supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who can own and manage the buffer stock?

Only the government

Only a central agency

Only a group of producers or traders

The government, a central agency, or a group of producers or traders

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does the label "D1" on the graph most likely represent in the context of a buffer stock scheme?

Demand at year 1

Demand after intervention

Initial demand before buffer stock

Supply curve

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