Commerce Exam > Commerce Notes > Economics Class 11 > Worksheet: Market Equilibrium- 1
Worksheet: Market Equilibrium- 1 | Economics Class 11 - Commerce PDF Download
| Table of contents |
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| Multiple Choice Questions |
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| Match the Following |
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| True or False |
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| Very Short Answers |
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| Short Answers |
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Multiple Choice Questions
Q1: What is the primary factor that determines market equilibrium?
(a) Demand only
(b) Supply only
(c) Both Demand and Supply
(d) Government regulations
Q2: Which of the following situations would lead to an increase in market equilibrium price?
(a) Increase in demand and decrease in supply
(b) Decrease in demand and increase in supply
(c) Increase in both demand and supply
(d) Decrease in both demand and supply
Q3: When market price is above the equilibrium price, what is likely to happen in the market?
(a) Surplus
(b) Shortage
(c) Equilibrium
(d) Stability
Q4: What happens to market equilibrium when there is a decrease in consumer preferences for a specific product?
(a) Equilibrium price increases
(b) Equilibrium quantity increases
(c) Equilibrium price and quantity decrease
(d) Equilibrium remains unchanged
Q5: Which of the following is a determinant of market demand?
(a) Production costs
(b) Consumer income
(c) Number of firms in the market
(d) Government policies
Match the Following
Q1: Match the Following
True or False
Q1: Market equilibrium is always stable.
Q2: Changes in consumer preferences do not affect market equilibrium.
Q3: Surplus occurs when quantity demanded exceeds quantity supplied.
Q4: Demand curve shows the relationship between price and quantity demanded.
Q5: Equilibrium price can be affected by changes in both demand and supply.
Very Short Answers
Q1: Explain the concept of market equilibrium.
Q2: What factors can cause a shift in the demand curve?
Q3: Define surplus and its impact on the market.
Q4: How does market equilibrium change when both demand and supply increase?
Q5: Explain the concept of a supply curve.
Short Answers
Q1: Discuss the factors that can lead to a shift in the supply curve.
Q2: Analyze the impact of government policies on market equilibrium.
Q3: Explain the concept of elasticity of demand and its relevance to market equilibrium.
Q4: Describe the role of consumer preferences in determining market equilibrium.
Q5: Discuss the impact of technological advancements on market equilibrium.
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