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Class 11 Economics: Market Equilibrium — Chapter Test 1

Class 11 • Economics • Market Equilibrium • Chapter Test

MediumFREE

15

Questions

20 min

Duration

15

Marks (1 each)

No

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

  • • Read each question carefully and pick the correct answer.
  • • You can mark questions for review and come back to them.
  • • Answers are saved automatically.
  • • The test is submitted automatically when time runs out.

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This test is completely free.

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SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

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Question 1 of 15
Market equilibrium occurs where:
A
demand exceeds supply
B
quantity demanded equals quantity supplied
C
price is zero
D
supply is maximum
View Correct Answer & Step-by-Step Solution
Correct Option:(B)quantity demanded equals quantity supplied

Detailed explanation is available inside the official test attempt review.

Question 2 of 15
Excess demand leads to:
A
a fall in price
B
a rise in price
C
no change
D
surplus
View Correct Answer & Step-by-Step Solution
Correct Option:(B)a rise in price

Detailed explanation is available inside the official test attempt review.

Question 3 of 15
Excess supply leads to:
A
a rise in price
B
a fall in price
C
shortage
D
no change
View Correct Answer & Step-by-Step Solution
Correct Option:(B)a fall in price

Detailed explanation is available inside the official test attempt review.

Question 4 of 15
An increase in demand (supply unchanged) leads to:
A
lower price and quantity
B
higher equilibrium price and quantity
C
lower price, higher quantity
D
no change
View Correct Answer & Step-by-Step Solution
Correct Option:(B)higher equilibrium price and quantity

Detailed explanation is available inside the official test attempt review.

Question 5 of 15
An increase in supply (demand unchanged) leads to:
A
higher price
B
lower price and higher quantity
C
lower quantity
D
no change
View Correct Answer & Step-by-Step Solution
Correct Option:(B)lower price and higher quantity

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 11 Economics: Market Equilibrium — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Market Equilibrium" of Class 11 Economics. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.