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ABHAT INSTITUTE, , Date o A R 4, for Excelence, Marks An Institute, (weekly Test), , Signature, , , , crease in demand causes the equilibrium price (@:, Fall, , , , 1. A des, a, Rise B. ‘, c Remain constant D, Indeterminate, , 2 When price is below equilibrium level, there will be:, A. or plus commodity in the market B. Shortage —— the market, c. Supply curve will shift D. Demand curve will s! /, , 3. Hf equilibrium price rises but equilibriam quantity remains unchanged, the cause 187, , A. Supply and demand both increase equally B. Supply and demand both decrease equally, , C. Supply decreases and demand increases D. Supply increases and demand decreases, , 4. Price of a product is deter mined in a free market:, , By supply of the product, , A. By demand for the product B,, By the government, , C. By both demand and supply DAn increases in the price of mutton provides information w hich:, B. ‘Tells consumers to buy more chicken, , 3., A Tells consumers to buy more mutton, C. Tells producers to produce more mutton Db. Provides no information, 6. In market equilibrium, supply is vertical line, The downward sloping demand curve shifts to the, , rights. Then;, A. Price will fall B. Price remains same, , Sy Price will riseD. Quantity rises, , 7. Equilibrium:, Is a state that can never be achieved in economicsB. Is an important idea for predicting, , A., economic changes, Cc. Isastable condition dD. Is an unstable condition, , ot, , Ten rupees is the equilibrium price for good X. If government fixes price at Rs. 5, the, , A. A shortage B. Asurplus, C Excess supply D. Lass, 9, ise ii, A rise in supply and demand in equal proportion will result in:, , A Increase in equilibrium pri, , _ se price and decrease ii i reuse, ee price and increase in equilibrium os nt Ns = . si ®, C ‘0 change in equilibrium pri i <, , __N ; price and increas libri rease, equilibrium price and no change in equilibrium mee pA sie? =, » _, , , , 10, The price and s, ales of sugar both i, L eet [ increase, What could be se is, = . Tr ayes incomes of the consumers ; es ie the ta, . ie wages i i ; : ', se Peru — ges of workers in the Sugar industry : D. ee, ? . An increase i, in the, , exp and quan when quanti, Explain with eraph new equilibrium price and qi tity wh ty, q t, , demanded .[ 10marks|, supplied i, Pplied is more than quantity