{"id":6930,"date":"2023-11-23T18:46:09","date_gmt":"2023-11-23T13:16:09","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=6930"},"modified":"2023-11-23T18:46:44","modified_gmt":"2023-11-23T13:16:44","slug":"ncert-class-11-economics-mcq-8","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-8\/","title":{"rendered":"NCERT Class 11 Economics\u00a0MCQ :\u00a0Market Equilibrium"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-8\/#NCERT_Class_11_Economics_MCQ_Market_Equilibrium\" >NCERT Class 11 Economics&nbsp;MCQ :&nbsp;Market Equilibrium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-8\/#NCERT_Class_11_Economics_Market_Equilibrium_MCQ_%E2%80%93_NCERT_Class_11_MCQ\" >NCERT Class 11 Economics&nbsp;: Market Equilibrium MCQ &#8211; NCERT Class 11 MCQ<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-11-economics-mcq-8\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_11_Economics_MCQ_Market_Equilibrium\"><\/span>NCERT Class 11 <strong>Economics&nbsp;<\/strong>MCQ :&nbsp;Market Equilibrium<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Embark on an economic exploration through the intricate balance of supply and demand with our specialized Multiple Choice Questions (MCQs) page on &#8220;Market Equilibrium,&#8221; featuring questions meticulously sourced from previous year papers across diverse exams, including the esteemed UPSC IAS and more. Immerse yourself in the dynamics of market forces, explore the equilibrium price and quantity, and test your understanding of economic stability through a curated set of questions designed to cater to aspirants preparing for various competitive sectors.<\/p>\n\n\n\n<p>Our MCQs on &#8220;Market Equilibrium&#8221; cover pivotal topics such as the law of demand, market shifts, and the impact on prices. Whether you are gearing up for UPSC IAS or other competitive exams, these questions provide a strategic approach to mastering the principles governing economic equilibriums.<\/p>\n\n\n\n<p>What sets our MCQs apart? Each question is thoughtfully selected from authentic exam scenarios, offering a practical and effective way to prepare. By engaging with these questions, you not only familiarize yourself with the exam pattern but also deepen your understanding of the intricate details within the economic landscape.<\/p>\n\n\n\n<p>Prepare with confidence, knowing that our &#8220;Market Equilibrium&#8221; MCQs are designed to empower you with the knowledge and analytical skills necessary to excel in UPSC IAS and various competitive exams. Unveil the economic equilibrium with precision and insight.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_11_Economics_Market_Equilibrium_MCQ_%E2%80%93_NCERT_Class_11_MCQ\"><\/span>NCERT Class 11 <strong><strong><strong>Economics&nbsp;<\/strong><\/strong><\/strong>: Market Equilibrium MCQ<strong> &#8211; NCERT Class 11 MCQ<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which is a characteristic of the market ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91544\"> One Area<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91544\"> Presence of both Buyers and Sellers<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91544\">Single Price of the Commodity<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91544\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which is a basic for the classification of the market ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91547\"> Perfect Competition<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91547\">Zero Competition (Monopoly)<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91547\"> Imperfect Competition<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91547\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is a feature of perfect competition ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91549\">Large Number of Buyers and Sellers<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91549\">Homogeneous Units of the Product<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91549\"> Perfect Knowledge of the Market<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91549\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In which market product differentiation is found ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91550\">Pure Competition<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91550\">Perfect Competition<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91550\">Monopoly<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91550\">Monopolistic Competition<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is true in perfect competition ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91552\"> Firm is price-taker, not price-maker<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91552\">Firm\u2019s demand curve is perfectly elastic<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91552\"> AR = MR<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91552\"> All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one is a feature of monopoly ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91556\">Single Seller and Many Buyers<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91556\"> Lack of Close Substitutes<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91556\">Restrictions of New Firm entry<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91556\">All of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one of the following is true for monopoly ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91559\">Firm is price-maker<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91559\"> Demand curve slopes downward<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91559\">Price discrimination possibility arises<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91559\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which one is a feature of monopolistic competition ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91563\">Differentiated Product<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91563\">Selling Cost<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91563\">Imperfect Knowledge of the Market<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91563\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">A market in which there is free entry and exit, the market is:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91565\"> Monopolistic Competitive Market<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91565\"> Imperfect Competitive Market<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91565\">Perfectly Competitive Market<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91565\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">What does a monopolist market show ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91568\"> Production process<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91568\"> Distribution system<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91568\">Nature of market<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91568\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Price discrimination is found in which market ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91572\"> Pure Competition<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91572\"> Perfect Competition<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91572\">Monopoly<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91572\"> Monopolistic Competition<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is the feature of pure competition ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91576\"> Perfect knowledge of the market<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91576\"> Perfect mobility of factors<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91576\">Homogenity by products<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91576\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Market situation where there is only one buyer is:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91578\">Monopoly<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91578\">Monopsony<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91578\">) Duropoly<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91578\"> None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The concept of monopolistic competition is given by:<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91581\"> Hicks<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91581\">Chamberlin<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91581\"> Mrs. Robinson<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91581\">Samuelson<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which of the following is not a feature of perfect competition ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91585\"> Large number of buyers and sellers<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91585\">Homogeneity of product<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91585\">Advertisement and selling cost<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91585\"> Perfect knowledge of the market<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">In which market is AR equal to MR ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91588\">Perfect competition<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91588\">Oligopoly<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91588\">Imperfect competition<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91588\">Monopoly<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which factor determines Equilibrium Price ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91591\">Demand for Commodity<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91591\"> Supply of Commodity<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91591\"> Both (a) and (b)<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91591\">None of the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Price is determined by Demand and Supply. Whose statement is this ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91593\">Jevons<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91593\">Walras<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91593\">Marshall<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91593\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Price of a commodity is determined at a point where :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91596\">Demand exceeds<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91596\">Supply exceeds<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91596\"> Demand equals supply<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91596\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">What is true for perfect competition market ?<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_91599\">Price is determined by both Demand and Supply Forces<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_91599\"> Price is determined by the industry<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_91599\"> Each firm of the industry is Price-taker<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_91599\">All the above<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n  <\/div>\r\n<script src=\"https:\/\/code.jquery.com\/jquery-3.6.0.min.js\"><\/script>\r\n<script>\r\n$(document).ready(function() {\r\n  $('.show-answer').click(function() {\r\n    var answer = $(this).data('answer');\r\n    $(this).siblings('.answer-box').html('The correct answer is: ' + answer).slideDown();\r\n    $(this).hide();\r\n  });\r\n});\r\n<\/script>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Links\"><\/span>Some Important Links <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 1 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 2 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-3\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 3 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-4\/\">NCERT CLASS 4 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--5\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-5\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 5 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-6\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 6 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--7\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-7\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 7 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--8\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-8\/\">NCERT CLASS 8 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--9\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-9\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 9 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--10\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-10\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 10 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--11\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-11\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 11 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--12\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-12\/\">NCERT CLASS 12 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6643489308705072\" crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\" style=\"display:block\" data-ad-format=\"autorelaxed\" data-ad-client=\"ca-pub-6643489308705072\" data-ad-slot=\"2759669284\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>NCERT Class 11 Economics&nbsp;MCQ :&nbsp;Market Equilibrium Embark on an economic exploration through the intricate balance of supply and demand with our specialized Multiple Choice Questions (MCQs) page on &#8220;Market Equilibrium,&#8221; featuring questions meticulously sourced from previous year papers across diverse exams, including the esteemed UPSC IAS and more. Immerse yourself in the dynamics of market [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":6936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[70],"tags":[109,5129,5131,5128,5125,5130,589,590],"class_list":["post-6930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-class-11","tag-competitive-exams","tag-economics-mcqs","tag-equilibrium-price-and-quantity","tag-law-of-demand","tag-market-equilibrium","tag-market-shifts","tag-previous-year-papers","tag-upsc-ias","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=6930"}],"version-history":[{"count":2,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6930\/revisions"}],"predecessor-version":[{"id":6942,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/6930\/revisions\/6942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/6936"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=6930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=6930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=6930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}