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CUET Economics 2026 PYQs15 May Shift 1. Free, no login required.

Micro

past year questions, CUET Economics 2026 15 May Shift 1

Market Equilibrium

past year questions, Micro, CUET Economics 2026 15 May Shift 1

Easy

When demand of a commodity is equal to that of its supply in the market then the price of this commodity is called?

Solution

✅ Correct Option: 1

The price at which market demand equals market supply is the equilibrium price, since at this price there is neither excess demand nor excess supply.

Related questions:

2025: 13 May Shift 1

Suppose an individual buy 30 bananas when its price is Rs. 10 per banana. When the price increases to Rs. 14 per banana, she reduces her demand to 24 bananas. In this case,what will be the price elasticity of demand?

2025: 16 May Shift 1

Which of the following is incorrect with reference to the imposition of a price floor for a good?

2025: 13 May Shift 2

Arrange the following elasticity degrees along the demand curve in their ascending order.

(A) Elasticity (eD) = 1

(B) Elasticity (eD) > 1

(C) Elasticity (eD) < 1

(D) Elasticity (eD) = 0

Choose the correct answer from the options given below:

2025: 26 May Shift 2

Match List-I with List-II

List-IList-II
(A) Increase in demand > Increase in Supply(I) Increase in both equilibrium price and quantity.
(B) Increase in demand < Increase in Supply(II) Decrease in both equilibrium price and quantity.
(C) Increase in demand = Increase in Supply(III) Decrease in equilibrium price but increase in equilibrium quantity.
(D) Decrease in demand < Decrease in supply(IV) Increase in equilibrium quantity but no change in equilibrium price.

Choose the correct answer from the options given below:

2026: 21 May Shift 1

Match List-I with List-II

List-IList-II
(A) Zero excess demand and zero excess supply situation occurs in(I) Wage rate
(B) Imposition of price ceiling below the equilibrium price leads to an(II) Perfectly competitive market
(C) Where the labour demand and labour supply curves intersect,it determines(III) Excess supply.
(D) Imposition of price floor above the equilibrium price leads to an(IV) Excess demand.

Choose the correct answer from the options given below:

2025: 21 May Shift 1

To be effective, the floor price should be determined

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