Question : Which of the statements is true :-
A: Expansion in Demand leads to an upward movement along the same demand curve.
B: Upward movement along the same demand curve occurs due to an increase in the price of the given commodity.

Option 1: Only option A correct 

Option 2: Option B is correct

Option 3: Both are correct 

Option 4: Both are false

Question : _______________ causes the general price level to rise (also known as inflation) in the economy.
 

Option 1: Excess demand
 

Option 2: Deficient demand
 

Option 3: Excess supply
 

Option 4: Deficient supply 
 

Question : Equilibrium price is the price when :

Option 1: Supply is greater than demand .

Option 2: Supply is less than demand .

Option 3: Demand  is very high .

Option 4: Supply is equal to demand.

Question : ___________________ causes the general price level to fall due to lack of demand for goods and services in the economy.
 

Option 1: Excess demand
 

Option 2: Deficient demand
 

Option 3: Excess supply
 

Option 4: Deficient demand
 

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.