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Social Science The Price Puzzle: What Drives the Market Class 9 MCQ and Assertion Questions

10 Question MCQ (including Assertion) · Class 9 · Social Science · CBSE

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Chapter 9 - The Price Puzzle: What Drives the Market | 10 questions | about 8 minutes

Practise The Price Puzzle: What Drives the Market Class 9 with Teachoo's 10 Question MCQ (including Assertion) (Class 9 · Social Science · CBSE). Practise these questions in a free interactive quiz with answer feedback.

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Question 1 of 10
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Question 1 of 10

Assertion (A): Assertion (A): Wheat and chickpeas are called substitutes in production.

Reason (R): Reason (R): A farmer can grow either wheat or chickpeas on the same piece of land, and growing more of one usually means growing less of the other.

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Question 2 of 10
Potato wholesalers expect prices to rise in the peak season, so they hold back potatoes now to sell later. Which determinant of supply does this show?
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Question 3 of 10
What does it mean when a market is said to be 'cleared' at equilibrium?
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Question 4 of 10
People expect the price of gold to rise soon, so they buy more gold today. Which determinant of demand does this illustrate?
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Question 5 of 10
India has far higher demand for mobile phones than Mongolia. Which determinant of demand explains this?
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Question 6 of 10
A small shopkeeper sees a good price and wants to sell 100 kg of mangoes, but he has only 10 kg in stock. What does this show about his supply?
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Question 7 of 10
Many small girls prefer Barbie dolls, while many small boys prefer toy cars. Which determinant of demand does this show?
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Question 8 of 10
When there is excess demand below the equilibrium price, what do buyers typically do, and what happens to the price?
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Question 9 of 10

Assertion (A): Assertion (A): When the price of coffee rises, the demand for tea rises.

Reason (R): Reason (R): Tea and coffee are substitute goods for many consumers.

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Question 10 of 10
At Rs 150 per kg, Sellers A, B and C offer 3 kg, 7 kg and 8 kg of mangoes respectively. What is the market supply at this price?
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This 10 Question MCQ (including Assertion) covers The Price Puzzle: What Drives the Market Class 9 for Class 9 · Social Science · CBSE. Practise the questions in the interactive quiz and check your answers.

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