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CBSE Class 9 Markets and Price Mechanisms — practice questions

Explore 64 free Markets and Price Mechanisms questions in CBSE Class 9 Social Science. Open each question or exercise to read its content, reference answers and available explanation.

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Markets and Price Mechanisms questions and exercises with answers

Showing questions 1–30 of 64.

Besides the willingness to buy, what must a buyer have for it to count as demand?Read the answer and worked solution →When the price of a product rises, what generally happens to its quantity demanded?Read the answer and worked solution →What kind of link does the Law of Demand show between price and quantity demanded?Read the answer and worked solution →A buyer takes 1 kg of mangoes at ₹150 but 3 kg at ₹50. What does this show?Read the answer and worked solution →What is the quantity one consumer wants to buy at different prices, other factors constant, called?Read the answer and worked solution →A list showing quantities a buyer wants at various prices is called a what?Read the answer and worked solution →Joining the points of a demand schedule on a chart gives a line that slopes in which way?Read the answer and worked solution →How is market demand for a good obtained?Read the answer and worked solution →At ₹100 per kg, three buyers want 2 kg, 4 kg and 6 kg of mangoes. What is the market demand?Read the answer and worked solution →Which pair is an example of substitute goods?Read the answer and worked solution →The price of coffee rises while tea stays the same. What is likely to happen to tea demand?Read the answer and worked solution →If demand for printers rises, what may happen to demand for printer cartridges?Read the answer and worked solution →Movie tickets become costlier and fewer people go to cinemas. What happens to popcorn demand there?Read the answer and worked solution →Incomes rise while prices stay the same. What generally happens to quantity demanded of many goods?Read the answer and worked solution →A buyer will not swap mangoes for cheaper oranges. Which factor shapes her demand?Read the answer and worked solution →A country with many more elderly people will see higher demand for which footwear?Read the answer and worked solution →You enjoy the first mango but barely want the fifth. Which principle explains this?Read the answer and worked solution →Sweet shops get crowded during festivals even without a price change. Which factor is this?Read the answer and worked solution →People expect festival discounts and postpone buying durables. What happens to present demand?Read the answer and worked solution →Buyers expect prices to rise next month. How does this affect their buying now?Read the answer and worked solution →What does supply mean in economics?Read the answer and worked solution →According to the law of supply, a higher price leads to what?Read the answer and worked solution →Why do producers supply more when the price rises?Read the answer and worked solution →Which way does a typical supply curve slope?Read the answer and worked solution →Mid-season, more mangoes reach the market. What tends to happen to their price?Read the answer and worked solution →When supply is less than demand, what usually happens to price?Read the answer and worked solution →How is market supply worked out?Read the answer and worked solution →At ₹150 per kg, sellers offer 3 kg, 7 kg and 8 kg. What is the market supply?Read the answer and worked solution →Wheat prices are low and chickpea prices high, so a farmer plants chickpeas. Which factor is this?Read the answer and worked solution →Drip irrigation and weather sensors help farmers raise output. Which supply factor is this?Read the answer and worked solution →

Worked practice questions

Besides the willingness to buy, what must a buyer have for it to count as demand?

  1. The ability to pay
  2. A discount coupon
  3. A government permit
  4. A famous brand
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Correct answer: A. The ability to pay

Demand needs purchasing power as well as willingness, since a wish without money does not create demand.

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When the price of a product rises, what generally happens to its quantity demanded?

  1. It rises
  2. It falls
  3. It stays fixed
  4. It doubles
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Correct answer: B. It falls

Buyers cut back purchases as a product becomes costlier, which is the law of demand.

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What kind of link does the Law of Demand show between price and quantity demanded?

  1. A direct link
  2. No link at all
  3. An inverse link
  4. A fixed ratio
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Correct answer: C. An inverse link

Price and quantity demanded move in opposite directions, which is an inverse relationship.

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