Related InterviewSolutions

• Explain the implications of minimum price ceiling.
• Under which market form a firm is a price taker ?
• State clearly any three feature of a perfectly competitive market.
• Cigarette smoking is injurious to health. How can the government reduce its consumption but only through the market forces. Explain the chain of effects of the government action.
• Giving reasons, state whether the following statement are true or false : (i) Excess supply of a commodity exists when its market price is greater than equilibirum price.
• When the prevailing market price is different from the equilibrium price, is immediately results in :A. Excess demandB. Excess supplyC. Either (a) or (b)D. Neither (a) and (b)
• Fixation of minimum wage below the equilibrium wage rate leads to :A. UnemploymentB. OveremploymentC. Neither (a) nor (b)D. Either (a) or (b)
• Any departure of price from the equilibrium price must, through a series of a actions and reactions, result in :A. New higher equilibrium priceB. New lower equilibrium priceC. Back to the given equilibrium priceD. Any of the above
• Consumer awareness campaign successfully spreads market information about an essential product. Explain how ill it benefit the users of this product.