Supply and Demand Multiple Choice Questions Test 1

Practice MBA test 1 with MCQs on demand online for learning. Practice supply and demand multiple choice questions (MCQ) on demand, price elasticity of demand, market equilibrium, marginal cost,. Free study guide has answering options equilibrium, partial equilibrium, economic equilibrium and price equilibrium of multiple choice questions (MCQ) as supply-and-demand model is a partial equilibrium model of to test learning skills. Study to learn demand quiz questions to practice MCQ based online exam preparation test.

MCQ on Supply and Demand - Test 1

MCQ. Supply-and-demand model is a partial equilibrium model of

  1. partial equilibrium.
  2. equilibrium.
  3. economic equilibrium.
  4. price equilibrium.


MCQ. Evaluate sensitivity of quantity variable, Q, to vary in price variable, P is

  1. elasticity of demand.
  2. price elasticity of demand.
  3. price elasticity of supply.
  4. elasticity.


MCQ. Scrutinize possible effect on equilibrium of a change in outer surroundings affecting marketplace is

  1. changes in market equilibrium.
  2. demand curve shifts.
  3. partial equilibrium.
  4. comparative static analysis.


MCQ. Expression "supply and demand" was initially used by

  1. Adam Smith.
  2. David Ricardo.
  3. John Locke's.
  4. James Denham-Stuart.


MCQ. Under supposition of ideal competition, supply is determined through

  1. marginal cost.
  2. marginal revenue.
  3. marginal curve.
  4. supply curve.

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