Under __________________, price is determined by the interaction of total demand and total supply in the market.

Related MCQs

• Price of a product is determined in a free market:
• In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then,
• Given the price, if the cost of production increases because of higher price of raw materials, the supply
• Factor prices are determined in the market under forces of
• Factor prices are determined in the factor market under the forces of
• A rise in supply and demand in equal proportion will result in:
• A decrease in demand causes the equilibrium price to:
• Equilibrium in the factor market achieved at the factor price and factor quantity is given by
• Under Marginal productivity Theory, reward for labour is determined by
• Under perfect competition, demand for a factor is its: