An agreement among sellers of a commodity to set a common price or share their commodity market?

Related Mcqs:

1. The implicit change in real income resulting from the effects of a change in a commodity’s price on quantity demand?

   A. Income effect B. Substitution effect C. Labour effect D. All...

2. Any system that features one price for sellers and another for buyers ?

   A. Dual price system B. Floor pricing C. Ceiling pricing D. None...

3. The responsiveness of the quantity demand of a commodity to change in the consumer’s income, measured by the proportionate change in quantity divided by the proportionate change in income ?

   A. Elasticity of demand B. Import substitution C. Income elasticity of demand D. None...

4. An institution or mechanism which brings together buyers and sellers is called____________________?

   A. Market B. Resource Market C. Product Market D. None...

5. A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?

   A. Speculation B. Specialization C. Spill over D. anti dumping...

6. A condition when there is excessive produce in the market which lowers down the price is called__________________?

   A. Market glut B. Perfect market C. Imperfect market D. All of these...

7. The gradual decline over time in the value or price of one currency in terms of another as a result of market forces of supply and demand ?

   A. Depreciation B. Downsizing C. Rightsizing D. All...

8. A legally determined price above the equilibrium price is__________________?

   A. Floor price B. Ceiling price C. Equilibrium price D. None...

9. Increases in the price level resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand ?

   A. Demand pull inflation B. Stagflation C. Both D. None...

10. Other thing remain the same as price rises, the corresponding quantity supplied rises, as price falls the quantity supplied falls is___________________?

    A. Say’s law B. Keynes theory of supply C. Law of supply D. None...