Question : The equilibrium price of a commodity will rise if there is a/an:
Option 1: increase in supply combined with a decrease in demand.
Option 2: increases in both demand and supply.
Option 3: decrease in both demand and supply.
Option 4: increase in demand accompanied by a decrease in supply.
Correct Answer: increase in demand accompanied by a decrease in supply.
Solution : The correct option is an increase in demand accompanied by a decrease in supply.
When demand rises and supply falls, the commodity's equilibrium price increases. This is because a higher demand means consumers are willing to pay more at any price, pushing prices up. With reduced supply, fewer units are available for sale, which pushes the prices upward. Ultimately, increased demand and decreased supply together lead to a higher equilibrium price.
Application | Eligibility | Selection Process | Result | Cutoff | Admit Card | Preparation Tips
Question : The market equilibrium for a commodity is determined by:
Option 1: the market supply of the commodity.
Option 2: the balancing of the force of demand and supply for the commodity.
Option 3: the intervention of the government.
Option 4: market demand of the commodity.
Question : A man spends 75% of his income. If his income increases by 28% and his expenditure increases by 20%, then what is the increase or decrease percentage in his savings?
Option 1: 52% decrease
Option 2: 52% increase
Option 3: 13% decrease
Option 4: 13% increase
Question : The salary of Ramesh first increases by 35%, then decreases by 40%, then again increases by 25%. Find the overall increase or decrease percentage.
Option 1: Increase by 1.25%
Option 2: Decrease by 2.25%
Option 3: Decrease by 1.25%
Option 4: Increase by 2.25%
Question : Electrical conductance through metals is called electronic conductance and it ______.
Option 1: does not depend on the temperature
Option 2: decreases with an increase in temperature
Option 3: increases with an increase in temperature
Option 4: decreases with a decrease in temperature
Question : If the length of a rectangular plot of land is increased by 5% and the breadth is decreased by 10%, how much will its area increase or decrease?
Option 1: 6.5% increase
Option 2: 5.5% decrease
Option 3: 5.5% increase
Option 4: 6.5% decrease
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile