Related InterviewSolutions

• What does the market demand curve’reflect?
• What do you mean by market equilibrium? Explain.
• What do you mean by market demand? Explain.
• Due to increase in supply of a product, the supply curve:(a) Shifts to the right(b) Shifts to the left(c) Remains constant(d) No change
• Write down any three elements which affect the supply of a commodity.
• A producer produces an object with the aim of :(a) Social service(b) Self satisfaction(c) To earn profit(d) To achieve prestige
• Who demands the goods in the merchandise market?
• What does equilibrium mean? In which situation is the market said to be in a state of equilibrium?
• What is supply schedule?
• Main cause for demand of a commodity is :(a) Supply of money(b) Supply of goods(c) Attribute of want satisfying capacity(d) Availability of goods