CA CPT - Basics of General Economics - Supply Analysis and Equilibrium Price

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Question - 1

Supply can be referred as

  • A Those goods which Firms offers for sale
  • B Amount of goods, Firms sells in the market
  • C Amount of goods all people want
  • D None of the above

Question - 2

The Supply of a product refers to

  • A Actual production of the product
  • B Total existing stock of the product
  • C Stock available for sale
  • D Amount of the product offered for sale at a particular price per unit of time

Question - 3

Supply of a Commodity is a

  • A Stock Concept
  • B Flow Concept
  • C Both Stock and Flow Concept
  • D None of these

Question - 4

______refers to the quantity of goods or services that Producers are willing and able to offer to the market at various prices during a period of time

  • A Demand
  • B Supply
  • C Stock
  • D Sales

Question - 5

Supply refers to_____

  • A Stock of goods available for sale
  • B Stock of goods
  • C Quantity supplied at a various price during a period of time
  • D Actual production of the goods

Question - 6

Supply refers to the quantity of goods or services, that_____are willing and able to offer to the market at various prices during a period of time.

  • A Producers
  • B Consumers
  • C Economists
  • D Accountants

Question - 7

Supply Quantity is the same as Sales Quantity. This statement is

  • A True
  • B False
  • C Partially True
  • D None of the above

Question - 8

Supply refers to what Firms offer for sale, and not necessarily to what they succeed in selling. This statement is

  • A True
  • B False
  • C Partially True
  • D None of the above

Question - 9

To constitute Supply, the Producing Firms must have

  • A Ability, i.e. productive capacity
  • B Willingness, i.e. ready to supply
  • C Both (a) and (b)
  • D Neither (a) nor (b)

Question - 10

Supply refers to the______by Producing Firms

  • A Quantities offered for sale
  • B Prices offered
  • C Sales achieved
  • D Profits earned
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