How is an equilibrium price of a commodity determined ?Explain with the help of demand and supply schedule(Delhi 2009)
or
Explain how market price of a good is determined.Use diagram(All India 2009 c)
or
How is price determined under perfect competition? Explain briefly(All India 2006)
An equilibrium price is determined by the forces of market demand and market supply Considering market demand schedule on the one hand and market supply schedule on the other hand, we identify an equilibrium price as the one where market demand is equal to market supply i.e. where market demand curve and market supply curve intersect each other.
Explain why an equilibrium price of a commodity is determined at that level of output at which its demand equals its supply.
State whether the following statement is true or false. Give reason.
When equilibrium price of a good is less than its market price, there will be competition among the sellers.
Explain the effects of a ‘price floor'. [CBSE Sample Paper 2014] Or
What are the effects of ‘price – floor' (minimum price ceiling) on the market of a good? Use diagram.
How will an increase in the income of buyers of an ‘inferior goods', affect its equilibrium price and equilibrium quantity? Explain with the help of a diagram. [CBSE 2006]
What would be an effect on equilibrium price and quantity when demand and supply both shifts rightward?
Or
What would be an effect on equilibrium price and quantity when there is simultaneous increase in demand and supply? [AI 2008] Or
"If the demand and supply of a commodity both increase, the equilibrium price may not change, may increase, may decrease."Explain using diagrams.
Or [CBSE Sample Paper 2003]
Market for a good is in equilibrium. There is simultaneous "increase"both in demand and supply of the good. Explain its effect on market price. [CBSE 2012]
The demand and supply of a commodity both decreases in the same proportion. Explain its effects on an equilibrium price and quantity with the help of a diagram.(All India 2008)
Explain the changes that take place when at a given price of a commodity, there is excess supply of it. Use diagram. (Delhi 2006 C)
What would be an effect on equilibrium price and quantity when demand and supply both increase at the same rate? [CBSE 08, 08C] Or
Explain with the help of a diagram a situation when demand and supply curves shift to the right but equilibrium price remains the same.
[AI 2007] Or
Market for a good is in equilibrium. What is the effect on equilibrium price and quantity if both the market demand and the market supply of the goods increase in the same proportion? Use diagram. [CBSE 2008]
What is excess demand for a good in a market? Explain its chain of effects on the market for that good use diagram.(Foreign, 2014)
What will happen if the price prevailing in the market is
(i) Above the equilibrium price?
(ii) Below the equilibrium price?
[6 Marks] Or
How price and quantity are determined in the market when number of firms are fixed? Or
How is equilibrium price of a commodity determined? (Use diagram).
[CBSE 2004C; AI 07, 09] Or
Explain why equilibrium price is determined at the level of output at which its demand is equal to its supply. [CBSE 2010C]
Or
How will equilibrium price be reached when there is excess demand/excess supply? Explain with diagram. [CBSE 2004, 07; AI 2004] Or
With the help of a suitable diagram, explain the process of determination of equilibrium price of a commodity under perfectly competitive market.
[CBSE Sample Paper 2003] Or
Market for a good is in equilibrium. Explain the chain of reactions in the market if the price is
(i) higher than equilibrium price and
(ii) lower than equilibrium price. [AI 2012]
What would be an effect on equilibrium price and equilibrium quantity if demand and supply both fall at the same rate?
Or
Market for a good is in equilibrium. There is simultaneous "decrease"both in demand and supply but there is no change in market price. Explain with the help of a schedule how is it possible. [AI 2012]
Explain the sequence of changes that will take place when there is excess demand of the commodity.(All India 2011)
or
At a given price, there is an excess demand for a good. Explain how the equilibrium price will be reached. (Delhi 2007)
How are equilibrium price and quantity affected when income of the consumers
Market for a product is in equilibrium. Demand for the product decreases. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.(Delhi 2014, All India 2014)
Under what condition increase in demand would not make any effect on equilibrium quantity?
Explain the term market equilibrium. Explain the series of changes that will take place if market price is higher than an equilibrium price. (Delhi 2011 c)
Give reasons for the following statements:
How is the equilibrium price and equilibrium quantity of a normal commodity affected by an increase in the income of its buyers? Explain with the help of a diagram.
Or [CBSE 2006]
Explain the effect of increase in income of buyers of a ‘normal' commodity on its equilibrium price. [CBSE 2010]
Market for a good is in an equilibrium. There is simultaneous decrease both in demand and supply, but there is no change in market price. Explain with the help of a schedule, how is it possible.(All India 2012)
How will an increase in an income of the buyers of an inferior good, affect its equilibrium price and equilibrium quantity? Explain with the help of a diagram.(All India 2006)
What happens to equilibrium price of a commodity if there is ‘decrease' in its demand and increase' in its supply?
What happens to equilibrium price of a commodity if there is an ‘increase' in its demand and decrease' in its supply?
Market for a good is in equilibrium. There is increase in demand for goods. Explain the chain of effects of this change. Use diagram.
Or [CBSE 2011] How does an increase in demand of a commodity affect its equilibrium price and equilibrium quantity? Explain with the help of a diagram.
Or ‘ [CBSE 2005]
How will equilibrium price and quantity be affected when there is rightward shift of demand curve? [CBSE 2004, 07C; AI 05]
What will be the effect on equilibrium price and equilibrium quantity, when:
Effects of Change in Demand On Equilibrium Increase in demand will shift the demand curve to the right keeping supply constant, it will lead to increase in equilibrium price and quantity and vice-versa . However,
How is an equilibrium price of a commodity affected by a leftward shift of the demand curve? Explain it with the help of a diagram. (All India 2007)
Market for a good is in an equilibrium. Suppose supply decreases. Giving reasons,
explain its effects on equilibrium price and quantity. Use diagram.(Foreign 2014; Delhi 2009 C)
Market for a good is an equilibrium. There is an increase in supply for this good.
Explain the chain of effects of this change. Use diagram(All India 2011)
How will a fall in the price of tea affects an equilibrium price of coffee? Explain the chain of effects (Delhi 2011 c)
With the help of demand and supply schedule, explain the meaning of excess demand and its effects on price of a commodity. (All India 2009)
Explain the effects of a price ceiling'. [CBSE Sample Paper 2014] Or Explain the effects of maximum price ceiling' on the market of a good. Use diagram. [CBSE 2015]
With the help of diagram, explain the effects of decrease in demand of a commodity on its equilibrium price and quantity. (Delhi 2009)
Under what condition increase in demand would not make any effect on equilibrium price?
Market for a good is in equilibrium. There is decrease in supply for this good. Explain the chain of effects of this change. Use diagram.
[AI 2011] Or
Explain the chain effects of decrease in supply of a good on its price, supply and demand. [CBSE 2005C]
Suppose the price of a good is higher than equilibrium price. Explain the changes that will establish equilibrium price. (Delhi 2009 c)
How does an equilibrium price of a normal commodity change when income of its buyers falls? Explain the chain of effects. (All India 2010)
or
A product market is in an equilibrium. Suppose the demand for the product decreases. What changes will take place in the market? Use diagram. (Delhi 2006 C)
Market of a commodity is in equilibrium. Demand for the commodity ‘increases.’ Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram. (Delhi 2014; All India 2014)