When demand of a commodity is equal to that of its supply in the market then the price of this commodity is called? Option 1: Equilibrium Price Option 2: Price Ceiling Option 3: Price Flooring Option 4: Price Elasticity of Demand

The answer is 'Equilibrium Price'. View full solution:

CUET Economics - When demand of a commodity is equal to that of its supply in the market then the price of this commodity is called? | PYQs + Solutions

CUET Economics 2026 15th May Shift 1

Micro

Easy

Equilibrium Price

Price Ceiling

Price Flooring

Price Elasticity of Demand

✅ Correct Option: 1

Related questions:

21st May Shift 2

If additional unit tax imposed on goods by the government, then how it will be affect the movement of supply curve?

26 May Shift 2

The market determined price of a good is Rs. 40.The government determines the price ceiling on the good as Rs. 25. Calculate the excess demand/excess supply it will cause if the demand and supply functions are Qd= 200 – p and Qs=120+ p respectively.

12th May Shift 1

Match List-I with List-II

List-I	List-II
(A) Increase in demand and no change in supply	(I) Equilibrium quantity decreases.
(B) Both demand and supply increase	(II) Equilibrium quantity increases.
(C) Decrease in supply and no change in demand	(III) Change in price depends on magnitude of shift
(D) Increase in demand and decrease in supply	(IV) Equilibrium price increases.

Choose the correct answer from the options given below:

CUET Economics 2026 15th May Shift 1 PYQs

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