If the demand for a commodity rises more than it supply, then its… - Vidyadip

Question

If the demand for a commodity rises more than it supply, then its price will ___________ (rise/fall)

✓

Answer

rise

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "Fill In The Blanks[1 Marks ]" from MICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY→MICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

_________ utilisation of resources implies that the actual level of output is less than the potential (Inefficient/Fuller) level of output.

IC analysis of consumer's equilibrium is based on the concept of ________ measurement of utility. (cardinal/ordinal)

Average revenue is ____________ per unit of output. (price/cost)

An indifference curve is a graphic presentation of _____. (indifference map/indifference set)

Other things being equal, with increase in the demand for a commodity, its equilibrium price ___________ (falls/rises)

The law of demand does not apply to _________________ goods. (normal/Giffen)

The price at which market demand and market supply are ___________ is called equilibrium price. (balanced/unbalanced)

Utility derived from an additional unit of a good is called _________ (total utility/marginal utility)

As output increases, AC and AVC tends to be closer but the difference between AC and AVC can never be ________.

Choice is the outcome of _________. (scarcity/decision-making)