Market Equilibrium MCQ Questions Class 12 Economics Chapter 5
NCERT MCQ Questions for Class 12 Economics Chapter 5 Market Equilibrium. Market Equilibrium MCQ Questions with Answers from Class 12 Economics.
1.) If at a price, market supply is greater than market demand, we say that
there is an
(a)Excess supply
(b) Excess Daman
(c) Equilibrium
(d)None of the above
Ans – Option (a)
2.) If market demand exceeds market supply at a price, it is said that
(a) Excess supply
(b) Excess demand
(c) Equilibrium
(d)None of the above
Ans- Option (b)
- In case you have missed:- Previous Chapter MCQ Questions
3.) The simultaneous shifts of demand and supply curve can happen in following possible ways:
(a) Both supply and demand curves shift rightwards.
((b)Both supply and demand curves shift leftwards.
(c) Supply curve shifts leftward and demand curve shifts rightward
(d)All the above
Ans – Option (d)
4.) The government-imposed upperlimit on the price of a good or service iscalled
(a)Price
(b)Price ceiling
(c) Both (a) and (b)
(d)None of the above
Ans – Option (b)
5.) The government imposed lower limit on the pricethat may be charged for particular good or service is called
(a)Price ceiling
(b)price floor
(c)price
(d)None of the above
Ans – Option (b)
- In case you have missed:- NCERT MCQ Questions for Introduction
For more ⇒ NCERT Accountancy MCQ for Class 12
For more updates, follow our page ⇒ Net Explanations