Taking only one change at a time while the other curve stays fixed, which of the following events would NOT cause the equilibrium price of a commodity to rise?

An increase in supply of the commodity

A decrease in supply of the commodity

An increase in demand for the commodity

A simultaneous increase in demand along with a decrease in supply

Assertion (A): When the prevailing price of a commodity is below its equilibrium price, the quantity demanded exceeds the quantity supplied. Reason (R): As price falls, quantity demanded rises according to the law of demand, while quantity supplied falls according to the law of supply, together creating excess demand. Choose the correct option.

Both A and R are true, and R correctly explains A

Both A and R are true, but R does not correctly explain A

Chapter testEconomicsIncluded in the seriesTest 23 of 45

Bihar Board Class 12 Commerce Economics · Ch 5: Market Equilibrium

Bihar Board Class 12 Commerce Economics · Ch 5: Market Equilibrium is an online chapter test in the Bihar Board Class 12 Commerce pattern, covering Market Equilibrium. Attempt it on SeatBeat with a timer like the real exam, then see a detailed solution for every question and your score and weak-topic analysis.

Questions

Minutes

Marks

None

Negative marking

Unlock all 45 tests — ₹149 Try Accountancy · Ch 1: Accounting for Partnership: Basic Concepts free →

Topics in this test

Topic	Subject	Questions
Market Equilibrium	Economics	30

Difficulty: 7 medium · 23 hard

Market Equilibrium MCQ questions with answers

The first 3 of 30 questions. Unlock the series for the rest, each with a solution.

Q1. The demand and supply functions for a commodity are $Q_d = 200 - 5P$ and $Q_s = 50 + 5P$. The government fixes a price floor at $Rs.\,20$ per unit, which is above the free-market equilibrium price. What is the excess supply at this floor price?
किसी वस्तु के लिए मांग और पूर्ति फलन $Q_d = 200 - 5P$ और $Q_s = 50 + 5P$ हैं। सरकार $Rs.\,20$ प्रति इकाई पर एक मूल्य तल (price floor) तय करती है, जो मुक्त-बाज़ार संतुलन कीमत से अधिक है। इस तल कीमत पर अधिक पूर्ति कितनी है?
- A. $50$ units / $50$ इकाइयाँ
- B. $75$ units / $75$ इकाइयाँ
- C. $100$ units / $100$ इकाइयाँ
- D. $25$ units / $25$ इकाइयाँ
Solution
At $P=20$, $Q_d = 200-100=100$ and $Q_s = 50+100=150$, so excess supply equals $150-100=50$ units.
$P=20$ पर, $Q_d = 200-100=100$ और $Q_s = 50+100=150$, इसलिए अधिक पूर्ति $150-100=50$ इकाइयों के बराबर है।
Q2. Taking only one change at a time while the other curve stays fixed, which of the following events would NOT cause the equilibrium price of a commodity to rise?
एक बार में केवल एक परिवर्तन मानते हुए जबकि दूसरा वक्र स्थिर रहता है, निम्नलिखित में से कौन सी घटना किसी वस्तु की संतुलन कीमत में वृद्धि का कारण नहीं बनेगी?
- A. A decrease in supply of the commodity / वस्तु की पूर्ति में कमी
- B. An increase in supply of the commodity / वस्तु की पूर्ति में वृद्धि
- C. An increase in demand for the commodity / वस्तु की मांग में वृद्धि
- D. A simultaneous increase in demand along with a decrease in supply / मांग में वृद्धि के साथ-साथ पूर्ति में एक साथ कमी
Solution
An increase in supply (rightward shift of the supply curve) lowers the equilibrium price, while the other listed changes all push the equilibrium price upward.
पूर्ति में वृद्धि (पूर्ति वक्र का दाईं ओर खिसकना) संतुलन कीमत को कम करती है, जबकि अन्य सूचीबद्ध परिवर्तन सभी संतुलन कीमत को ऊपर की ओर धकेलते हैं।
Q3. Assertion (A): When the prevailing price of a commodity is below its equilibrium price, the quantity demanded exceeds the quantity supplied. Reason (R): As price falls, quantity demanded rises according to the law of demand, while quantity supplied falls according to the law of supply, together creating excess demand. Choose the correct option.
अभिकथन (A): जब किसी वस्तु की प्रचलित कीमत उसकी संतुलन कीमत से कम होती है, तो मांगी गई मात्रा पूर्ति की गई मात्रा से अधिक हो जाती है। कारण (R): जैसे-जैसे कीमत घटती है, मांग के नियम के अनुसार मांगी गई मात्रा बढ़ती है, जबकि पूर्ति के नियम के अनुसार पूर्ति की गई मात्रा घटती है, जो मिलकर अधिक मांग उत्पन्न करती हैं। सही विकल्प चुनें।
- A. A is false, but R is true / A गलत है, लेकिन R सही है
- B. A is true, but R is false / A सही है, लेकिन R गलत है
- C. Both A and R are true, and R correctly explains A / A और R दोनों सही हैं, और R, A की सही व्याख्या करता है
- D. Both A and R are true, but R does not correctly explain A / A और R दोनों सही हैं, लेकिन R, A की सही व्याख्या नहीं करता
Solution
Both the assertion and reason are factually correct, and the reason correctly explains why a below-equilibrium price leads to excess demand.
अभिकथन और कारण दोनों तथ्यात्मक रूप से सही हैं, और कारण सही ढंग से स्पष्ट करता है कि संतुलन से कम कीमत अधिक मांग की ओर क्यों ले जाती है।

Frequently asked questions

How many questions are in the Bihar Board Class 12 Commerce Economics · Ch 5: Market Equilibrium?

30 questions for 30 marks, to be answered in 20 minutes.

Is there negative marking in the Bihar Board Class 12 Commerce Economics · Ch 5: Market Equilibrium?

No — wrong answers are not penalised in this test.

Which topics does the Bihar Board Class 12 Commerce Economics · Ch 5: Market Equilibrium cover?

Market Equilibrium (30 questions).

Is the Bihar Board Class 12 Commerce Economics · Ch 5: Market Equilibrium free?

It is part of the BSEB Class 12 Commerce Test Series 2027 — Chapter-wise + Full Tests (45 tests, ₹149). You can first try Accountancy · Ch 1: Accounting for Partnership: Basic Concepts for free.

More tests in the BSEB Class 12 Commerce Test Series 2027 — Chapter-wise + Full Tests

See the full BSEB Class 12 Commerce Test Series 2027 — Chapter-wise + Full Tests → · Bihar Board Class 12 Commerce: pattern, notification & syllabus →

₹149

View the full series