Micro

Introduction

Easy

In a market Economy; prices are determined by :

The Government

Demand of goods

Supply of goods

Demand and supply of goods

✅ Correct Option: 4

In a market economy (also called a free enterprise or capitalist economy), prices are determined by the interaction of market forces of demand and supply. The government does not intervene in price determination. Neither demand alone nor supply alone determines price; it is the equilibrium of both forces that sets the market price.

2025: 30 May Shift 1

"Economics is the science of wealth". This statement was given by :-

2025: 14 May Shift 1

Any allocation of resources by the society would result in the _____ of a particular combination of different goods and services.

2025: 2 June Shift 1

Which of the following is not concerned with the problem of choice?

2026: 13 May Shift 1

The collection of all possible combinations of goods and services that can be produced from a given amount of resources and a given stock of technological knowledge is called?

2026: 21 May Shift 2

A set of arrangements where economic agents can freely exchange their endowments or products with each other is known as:

2025: 13 May Shift 2

When in an economy, available resources are fully utilized at that point production of a combination of goods is known as .........

In a market Economy; prices are determined by :

Solution

Related questions:

Keyboard Shortcuts

CUET Economics Past Year Questions (Topic-Wise)