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CBSE Class 9 Markets and Price Mechanisms — practice questions — page 3

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 61–64 of 64.

How can heavy rules and price controls hurt long-term output?Read the answer and worked solution →In economics, what is a movement along a demand curve called?Read the answer and worked solution →If demand increases and the supply curve stays put, what happens to equilibrium price and quantity?Read the answer and worked solution →A cheaper way to grow wheat raises supply at every price. What happens to the equilibrium price?Read the answer and worked solution →

Worked practice questions

How can heavy rules and price controls hurt long-term output?

  1. They raise every wage
  2. They cut the urge to invest
  3. They create more buyers
  4. They end all taxes
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Correct answer: B. They cut the urge to invest

If producers cannot earn adequate returns, they will not invest in better seeds, irrigation or technology.

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In economics, what is a movement along a demand curve called?

  1. A change in demand
  2. A change in supply
  3. Change in quantity demanded
  4. A shift in equilibrium
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Correct answer: C. Change in quantity demanded

A price-driven move along the curve is a change in quantity demanded, while a shift of the curve is a change in demand.

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If demand increases and the supply curve stays put, what happens to equilibrium price and quantity?

  1. Price and volume rise
  2. Price and volume fall
  3. Price up, volume down
  4. Price down, volume up
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Correct answer: A. Price and volume rise

A rightward shift of demand moves the market to a higher price and a larger quantity.

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