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Bihar Board Class 12 (Arts) Theory of Consumer Behaviour & Demand — practice questions — page 3

Explore 192 free Theory of Consumer Behaviour & Demand questions in Bihar Board Class 12 (Arts) Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Theory of Consumer Behaviour & Demand questions and exercises with answers

Showing questions 61–90 of 192.

The EU buys products when price falls below its what?Read the answer and worked solution →What did EU price floors in agriculture famously leave in warehouses?Read the answer and worked solution →Canada's supply management policy covers which group of products?Read the answer and worked solution →A price floor above equilibrium moves some consumer surplus to whom?Read the answer and worked solution →A price floor above equilibrium creates which efficiency cost?Read the answer and worked solution →When a floor raises the price, buyers may switch to what?Read the answer and worked solution →What does resale price maintenance involve?Read the answer and worked solution →Maximum resale price maintenance works like which price control?Read the answer and worked solution →Minimum price per drink laws for alcohol are an example of what?Read the answer and worked solution →Why do governments usually impose price ceilings?Read the answer and worked solution →What do economists generally say about consumer price controls?Read the answer and worked solution →What happened to rentable properties after 1940s US rent controls?Read the answer and worked solution →Rent control is a system of laws for which market?Read the answer and worked solution →A rent freeze that allows no increase at all is which type of rent control?Read the answer and worked solution →Which rent control lets rents reach market levels between tenancies?Read the answer and worked solution →Under vacancy control, what does a new tenant pay?Read the answer and worked solution →What do most economists say rent control does to housing?Read the answer and worked solution →How did landlords respond to wartime US rent controls?Read the answer and worked solution →Which Swedish economist said rent control was the most efficient way to destroy a city?Read the answer and worked solution →Paul Krugman writes that rent control does what to new housing construction?Read the answer and worked solution →Where only some flats are rent controlled, rents of uncontrolled flats do what?Read the answer and worked solution →Some economists say rent controls cause which welfare loss?Read the answer and worked solution →Which policy can curb rent inflation instead of rent control?Read the answer and worked solution →Tatian criticised rent stabilization because its benefits were targeted how?Read the answer and worked solution →What is consumer surplus?Read the answer and worked solution →Which engineer first propounded the concept of economic surplus?Read the answer and worked solution →Consumer surplus lies between the demand curve and which line?Read the answer and worked solution →Producer surplus lies below the equilibrium price and above which curve?Read the answer and worked solution →With linear curves, consumer surplus has which shape?Read the answer and worked solution →Which good generally gives a high consumer surplus?Read the answer and worked solution →

Worked practice questions

The EU buys products when price falls below its what?

  1. Ceiling price
  2. Intervention price
  3. Import tariff
  4. Export quota
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Correct answer: B. Intervention price

The EU purchases surplus until reduced supply lifts the market price back to the intervention price.

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What did EU price floors in agriculture famously leave in warehouses?

  1. Grain deserts
  2. Butter mountains
  3. Coffee lakes
  4. Wool towers
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Correct answer: B. Butter mountains

Buying up excess dairy output to defend the price produced large stocks nicknamed butter mountains.

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Canada's supply management policy covers which group of products?

  1. Steel, copper and zinc
  2. Oil, coal and gas
  3. Dairy, poultry and eggs
  4. Cotton, jute and silk
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Correct answer: C. Dairy, poultry and eggs

Canada coordinates production and pricing for dairy, poultry and eggs to avoid shortages and surpluses.

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