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.
Correct Answer: the balancing of the force of demand and supply for the commodity.
Solution : The correct option is the balancing of the force of demand and supply for the commodity.
The market reaches equilibrium at the intersection of the demand and supply curves, where the quantity demanded matches the quantity supplied. This is the point of market balance, where neither a surplus nor a shortage of the commodity exists. Any shifts in either the demand or supply curves will result in adjustments to the equilibrium price and quantity.
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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.
Question : The sense of balance is achieved by:
Option 1: cerebrum equilibrium
Option 2: thalamus equilibrium
Option 3: cerebellum equilibrium
Option 4: spinal cord
Question : The minimum number of forces to keep a particle in equilibrium is
Option 1: 1
Option 2: 2
Option 3: 3
Option 4: 4
Question : Equilibrium out is determined by:
Option 1: the equality between total variable cost and marginal revenue
Option 2: the equality between Marginal cost and Marginal revenue
Option 3: the equality between Average cost and Average revenue
Option 4: the equality between total cost and total revenue
Question : Which of the following is not a primary force which influences ocean currents?
Option 1: Gravity
Option 2: Heating by the sun
Option 3: Magnetic fields of the earth
Option 4: Coriolis force
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