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- Introduction To Economicseconomics-mcqs › introduction-to-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
At the equilibrium price, the market is balanced because which of the following conditions hold true?
Multiple choice question for Introduction To Economics. Select an option, then review the explanation below.
Explanation
Option A suggests that all goods are sold, which may not always be the case. Option B implies buyers use all their money, which is unrelated to equilibrium. Option C correctly states that quantity demanded equals quantity supplied. Option D incorrectly describes excess demand equaling quantity. Therefore, the correct answer is E, as both C and D together describe the market-clearing condition.
More Introduction To Economics MCQs
Practice related questions from the same subject.
- 1.Which of the following factors directly influences the supply curve?
- 2.Under what condition is a market considered to be in equilibrium?
- 3.What type of relationship is depicted when a graph shows that as the values on the horizontal axis increase, the values on the vertical axis decrease?
- 4.Which two elements are essential to construct a straight-line graph?
- 5.How can a nominal value be converted into a real value?