[Solved] The market equilibrium for a commodity is determined by :

McqMate

Q.	The market equilibrium for a commodity is determined by :
A.	The market supply of the commodity.
B.	The balancing of the forces of demand and supply for the commodity
C.	(3) The intervention of the Government.(4)
D.	The market demand of the commodity.
Answer» B. The balancing of the forces of demand and supply for the commodity
Explanation: Market Equilibrium is determined when the quantity demanded of a commodity becomes equal to the quantity supplied. The price determined corresponding to market equilibrium is known as equilibrium price and the corresponding quantity is known as equilibrium quantity.

2.3k

0

Do you find this helpful?

25

View all MCQs in

Discussion

No comments yet

Related MCQs

Equilibrium price in the market is determined by the -
If the change in demand for a commodity is at a faster rate than change in the price of the commodity, the demand is -
The equilibrium price of a commodity will definitely rise if there is a/an:
The equilibrium of a firm under perfect competition will be determined when -
Inwhich market structure is the demand curve of the market represented by the demand curve of the firm?
Money market is a market for -
The market for long term loanable funds as different from the market that deals in short term loans is called:
The system of agricultural support by which market prices are fixed at above free market levels and government buys surpluses, thus supporting prices and raising farmer’s income is called:
The demand for which of the following commodity will not rise in spite of a fall in its price?
A fall in demand or rise in supply of a commodity—