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Social Science The Price Puzzle: What Drives the Market Class 9 Order-based MCQ Questions

Order-based MCQ Quiz · Class 9 · Social Science · CBSE

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Chapter 9 - The Price Puzzle: What Drives the Market | 5 questions | about 4 minutes

Practise The Price Puzzle: What Drives the Market Class 9 with Teachoo's Order-based MCQ Quiz (Class 9 · Social Science · CBSE). Practise these questions in a free interactive quiz with answer feedback.

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Question 1 of 5
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Question 1 of 5
Arrange the following stages of the COVID-19 face mask example in the correct order:
(I) Prices fall back to pre-pandemic levels as demand falls further
(II) The pandemic begins, and demand for masks rises very fast
(III) Suppliers make more masks over time, and prices fall
(IV) Supply cannot catch up immediately, so prices rise a lot
Select an option to see the answer, or skip this question.
Question 2 of 5
Arrange the following events in the correct order, describing how a price below equilibrium returns to equilibrium:
(I) Buyers compete for the limited mangoes available
(II) The price rises back towards equilibrium
(III) The price is set below the equilibrium price
(IV) Buyers want more mangoes than sellers offer, creating excess demand
Select an option to see the answer, or skip this question.
Question 3 of 5
Arrange the following steps of the park-funding dilemma in the correct order, as used to introduce the idea of inferior and substitute effects on demand through examples:
(I) Price of coffee rises
(II) Coffee drinkers look for an alternative
(III) Coffee drinkers switch to tea
(IV) Demand for tea rises
Select an option to see the answer, or skip this question.
Question 4 of 5
Arrange the following events in the correct order, describing how a price above equilibrium returns to equilibrium:
(I) Sellers cut prices to clear the unsold stock
(II) The price is set above the equilibrium price
(III) The price falls back towards equilibrium
(IV) Sellers offer more mangoes than buyers want, creating excess supply
Select an option to see the answer, or skip this question.
Question 5 of 5
Arrange the following events in the correct order, based on the chapter's sanitiser example during COVID-19:
(I) The government caps the maximum retail price of sanitisers under the Essential Commodities Act
(II) Demand for sanitisers surges, leading to stockouts
(III) Many companies start production, and sanitisers become widely available at fair prices
(IV) Some shopkeepers begin hoarding and black-marketing
Select an option to see the answer, or skip this question.
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