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All questions of Price Determination for Class 10 Exam
What adjustments do sellers make to achieve market equilibrium?- a)Increase prices until demand meets supply.
- b)Decrease prices until supply exceeds demand.
- c)Maintain high prices regardless of demand.
- d)Limit product availability to increase demand.
Correct answer is option 'A'. Can you explain this answer?
a)
Increase prices until demand meets supply.
b)
Decrease prices until supply exceeds demand.
c)
Maintain high prices regardless of demand.
d)
Limit product availability to increase demand.
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Prepworks Coaching answered |
Sellers adjust prices upwards until supply matches demand, achieving market equilibrium.
How do buyers influence market equilibrium?- a)By demanding more products at lower prices.
- b)By reducing their purchasing power.
- c)By increasing the cost of goods.
- d)By limiting supply availability.
Correct answer is option 'A'. Can you explain this answer?
a)
By demanding more products at lower prices.
b)
By reducing their purchasing power.
c)
By increasing the cost of goods.
d)
By limiting supply availability.
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Aurora Institute answered |
Buyers can affect market equilibrium by influencing demand through their willingness to pay and quantity they desire.
Why is market equilibrium considered desirable?- a)It maximizes seller profits.
- b)It ensures fair prices for consumers.
- c)It stabilizes supply and demand.
- d)It guarantees government intervention.
Correct answer is option 'C'. Can you explain this answer?
a)
It maximizes seller profits.
b)
It ensures fair prices for consumers.
c)
It stabilizes supply and demand.
d)
It guarantees government intervention.
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Aurora Institute answered |
Market equilibrium ensures a stable balance between what consumers demand and what producers supply, leading to efficient allocation of resources.
When does market disequilibrium occur?- a)When prices are set too low.
- b)When supply exceeds demand.
- c)When quantity demanded equals quantity supplied.
- d)When buyers refuse to purchase goods.
Correct answer is option 'B'. Can you explain this answer?
a)
When prices are set too low.
b)
When supply exceeds demand.
c)
When quantity demanded equals quantity supplied.
d)
When buyers refuse to purchase goods.
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Prepworks Coaching answered |
Market disequilibrium occurs when the quantity supplied exceeds the quantity demanded, leading to surplus.
What causes excess supply in the market?- a)High consumer demand.
- b)Low prices set by sellers.
- c)Insufficient production capacity.
- d)Producers’ unwillingness to sell.
Correct answer is option 'B'. Can you explain this answer?
a)
High consumer demand.
b)
Low prices set by sellers.
c)
Insufficient production capacity.
d)
Producers’ unwillingness to sell.
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Prepworks Coaching answered |
Excess supply occurs when prices are set too low, discouraging consumer purchases and leading to unsold goods.
What term describes the price where quantity demanded equals quantity supplied?- a)Market imbalance price.
- b)Excess demand price.
- c)Equilibrium price.
- d)Surplus price.
Correct answer is option 'C'. Can you explain this answer?
a)
Market imbalance price.
b)
Excess demand price.
c)
Equilibrium price.
d)
Surplus price.
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Prepworks Coaching answered |
The equilibrium price is where market supply and demand are balanced, ensuring neither excess supply nor excess demand.
How do markets typically resolve excess demand?- a)By increasing prices to reduce demand.
- b)By decreasing prices to stimulate supply.
- c)By limiting consumer access to goods.
- d)By maintaining stable prices regardless of demand.
Correct answer is option 'A'. Can you explain this answer?
a)
By increasing prices to reduce demand.
b)
By decreasing prices to stimulate supply.
c)
By limiting consumer access to goods.
d)
By maintaining stable prices regardless of demand.
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Prepworks Coaching answered |
Increasing prices encourages sellers to produce more and consumers to purchase less, thereby balancing supply and demand.
How do sellers typically respond to excess supply in the market?- a)By reducing prices to increase sales.
- b)By limiting production to match demand.
- c)By maintaining high prices to maximize profits.
- d)By withdrawing from the market temporarily.
Correct answer is option 'A'. Can you explain this answer?
a)
By reducing prices to increase sales.
b)
By limiting production to match demand.
c)
By maintaining high prices to maximize profits.
d)
By withdrawing from the market temporarily.
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Aurora Institute answered |
Sellers often lower prices to clear excess inventory and regain market equilibrium.
What does market equilibrium signify?- a)Market balance where sellers sell more than buyers demand.
- b)Situation where sellers set prices lower than buyers are willing to pay.
- c)Balance where the quantity demanded equals the quantity supplied.
- d)State where sellers refuse to adjust prices according to market trends.
Correct answer is option 'C'. Can you explain this answer?
a)
Market balance where sellers sell more than buyers demand.
b)
Situation where sellers set prices lower than buyers are willing to pay.
c)
Balance where the quantity demanded equals the quantity supplied.
d)
State where sellers refuse to adjust prices according to market trends.
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Prepworks Coaching answered |
Market equilibrium occurs when the quantity demanded by consumers matches the quantity supplied by producers at a specific price level.
In a market, what happens when there is excess demand?- a)Prices decrease to meet consumer demand.
- b)Producers reduce supply to maintain profitability.
- c)Quantity demanded exceeds quantity supplied.
- d)Quantity supplied exceeds quantity demanded.
Correct answer is option 'C'. Can you explain this answer?
a)
Prices decrease to meet consumer demand.
b)
Producers reduce supply to maintain profitability.
c)
Quantity demanded exceeds quantity supplied.
d)
Quantity supplied exceeds quantity demanded.
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Aurora Institute answered |
Excess demand occurs when consumers want to buy more goods than producers currently offer at the prevailing price.
Chapter doubts & questions for Price Determination - Economics for GCSE/IGCSE 2025 is part of Class 10 exam preparation. The chapters have been prepared according to the Class 10 exam syllabus. The Chapter doubts & questions, notes, tests & MCQs are made for Class 10 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests here.
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