A. Not provided in the free market economy
B. Under provided in the free market economy
C. Over provided in the free market economy
D. Provided free
A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium
If the price in a market is fixed by the government below equilibrium ? Read More »
Economics Mcqs, Market A. Be under provided in the free market
B. Be over provided in the free market
C. Not be provided in the free market
D. Has no opportunity cost
A public good will ? Read More »
Economics Mcqs, Market A. Increase equilibrium price and quantity
B. Decrease equilibrium price and quantity
C. Increase equilibrium price and decrease quantity
D. Decrease equilibrium price and increase quantity
An increase in demand for a product should ? Read More »
Economics Mcqs, Market A. The price elasticity of supply is – 3
B. The price elasticity of supply is – 0.2
C. The price elasticity of supply is – 2
D. The price elasticity of supply is infinity
A shift in supply will have more effect on price than quantity if ? Read More »
Economics Mcqs, Market A. The price elasticity of supply is price inelastic
B. The price elasticity of supply is price elastic
C. The price elasticity of supply is perfectly elastic
D. The price elasticity of supply is infinity
A shift is demand will have more effect on price than quantity if ? Read More »
Economics Mcqs, Market A. The price consumers are willing to pray for a unit
B. The cost of providing a unit
C. The profits made by a firm
D. The difference the price a consumer pays for an item and the price he/she is willing to pay
Which best describes consumer surplus ? Read More »
Economics Mcqs, Market A. A change in technology
B. A change in the number of producers
C. A shift in demand
D. A change in costs
A movement along the supply curve may be caused by ? Read More »
Economics Mcqs, Market A. A change in income
B. A change in the number of buyers
C. A change in advertising
D. A shift in supply
A movement along the demand curve may be caused by ? Read More »
Economics Mcqs, Market A. An fall in demand
B. An increase in supply
C. improvements in production technology
D. An increase in demand
