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Supply and demand changes have their most rapid impact in:

A. Auction market

B. Contract markets

C. Market for commercial office space

D. Natural gas market

Correct Answer : A.


Auction Market ?is a security exchange in which buyers enter competitive bids and sellers enter competitive offers at the same time. The price a stock is traded represents the highest price that a buyer is willing to pay and the lowest price that a seller is willing to sell at. Matching bids and offers are then paired together and the orders are executed.}

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  1. Who wrote A Contribution to the Theory of Trade Cycle?
  2. The average fixed cost (AFC) curve is asymptote to:
  3. Karl Marx:
  4. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  5. The average cost curve is a geometrical illustration of:
  6. The firm in cournot model:
  7. Economic laws are:
  8. The budget constraint equation of the firm is:
  9. Which of the following does not have a uniform elasticity of demand at all points?
  10. Duopoly is a market where there are:
  11. The main contribution of David Ricardo is in the field of:
  12. According to classical approach, utility can be:
  13. By increasing the price of its products above those of its competitors, a perfectly competitive seller:
  14. The kink demand curve faced by an oligopolist is based on the assumption that:
  15. Who stated explicitly for the first time the Law of Camparative Costs?
  16. Equilibrium of a firm represents maximization of profits as well as:
  17. If two goods have same marginal utility for a consumer then:
  18. Demand is elastic when the coefficient of elasticity is:
  19. If price exceeds AVC but in smaller than AC at the best level of output, the firm is:
  20. A vertical supply curve parallel to the price axis implies that the elasticity of supply is:
  21. The difference between the average total cost and average variable cost as output increases will:
  22. Which describes a competitive market?
  23. The shape of the TC curve is:
  24. The marginal revenue of a perfectly competitive firm is:
  25. Nash Equilibrium is stable:
  26. The real income of a consumer is income in terms of:
  27. If the demand curve is horizontal then its slope is:
  28. The general markets results from the imposition of price ceilings has been:
  29. A straight line, downward-sloping demand curve implies that, as price falls, the elasticity of demand:
  30. A price is a ratio of exchange between: