Practicing Class 9 Social Science MCQ and Class 9 SST Chapter 9 The Price Puzzle What Drives the Market MCQ Online Test with Answers daily helps in time management.
Class 9 SST Chapter 9 The Price Puzzle What Drives the Market MCQ
MCQ on The Price Puzzle What Drives the Market Class 9
The Price Puzzle What Drives the Market MCQ Class 9
Question 1.
Which of the following best defines demand?
(a) Quantity of goods produced
(b) Quantity of goods consumers are willing and able to buy at a given price
(c) Quantity of goods supplied
(d) Quantity of goods stored
Answer:
(b) Quantity of goods consumers are willing and able to buy at a given price
Question 2.
According to the law of demand, when the price of a good increases, demand generally:
(a) Increases
(b) Remains constant
(c) Decreases
(d) Doubles
Answer:
(c) Decreases
Question 3.
Which of the following is a determinant of demand?
(a) Technology
(b) Cost of production
(c) Consumer income
(d) Weather
Answer:
(c) Consumer income
Question 4.
Which factor is most likely to increase the supply of a product?
(a) Rise in production costs
(b) Improved technology
(c) Increase in taxes
(d) Natural disaster
Answer:
(b) Improved technology
Question 5.
Market equilibrium occurs when:
(a) Demand exceeds supply
(b) Supply exceeds demand
(c) Demand equals supply
(d) Prices are fixed by the government
Answer:
(c) Demand equals supply
Question 6.
A situation where quantity demanded exceeds quantity supplied is called:
(a) Surplus
(b) Equilibrium
(c) Shortage
(d) Monopoly
Answer:
(c) Shortage
Question 7.
Which of the following is a public good?
(a) Mobile phone
(b) Road
(c) Television
(d) Bicycle
Answer:
(b) Road
Question 8.
A minimum support price is generally intended to protect:
(a) Consumers
(b) Retailers
(c) Farmers
(d) Transporters
Answer:
(c) Farmers
Question 9.
If the government fixes the maximum price of an essential medicine below the market price, it may lead to:
(a) Surplus
(b) Shortage
(c) No effect
(d) Increased supply
Answer:
(b) Shortage
Question 10.
Which of the following pairs represents substitute goods?
(a) Pen and notebook
(b) Mobile and earphones
(c) Tea and coffee
(d) Car and petrol
Answer:
(c) Tea and coffee
The Price Puzzle What Drives the Market Class 9 Assertion and Reasoning Questions
There are two statements in each question marked as Assertion (A) and Reason (R). Choose your answer as per the options given below:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
(b) Both (A) and (R) are true but (R) is not the correct explanation of (A).
(c) (A) is true, but (R) is false.
(d) (A) is false but (R) is true.
Question 1.
Assertion (A): Demand for mangoes usually falls when their price rises.
Reason (R): Consumers generally buy less of a good when its price increases.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
Question 2.
Assertion (A): Improved technology can increase supply.
Reason (R): Technology often reduces production costs and improves efficiency.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
Question 3.
Assertion (A): A shortage exists when quantity supplied exceeds quantity demanded.
Reason (R): Shortages occur when demand is greater than supply.
Answer:
(d) (A) is false but (R) is true.
Question 4.
Assertion (A): Governments regulate prices of some medicines.
Reason (R): Essential medicines should remain affordable.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
Question 5.
Assertion (A): Public goods are usually provided by governments.
Reason (R): It is difficult to exclude people from using public goods.
Answer:
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
The Price Puzzle What Drives the Market Class 9 Fill in the Blanks
1. The quantity of a good that consumers are willing to buy is called ____________
Answer:
demand
2. The quantity of a good that producers are willing to sell is called ____________
Answer:
supply
3. Market equilibrium occurs when demand and supply are ____________
Answer:
equal
4. A situation in which supply exceeds demand is known as a ____________
Answer:
surplus
5. A situation in which demand exceeds supply is known as a ____________
Answer:
shortage
6. Goods that are used together are called ____________
Answer:
complementary goods
7. Roads and street lights are examples of ____________
Answer:
public goods
8. Improved technology generally increases the ____________ of goods.
Answer:
supply
The Price Puzzle What Drives the Market Class 9 True or False
1. Demand always increases when prices increase.
Answer:
False
2. Consumer income can influence demand.
Answer:
True
3. Supply generally increases when prices rise.
Answer:
True
4. Equilibrium occurs when demand equals supply.
Answer:
True
5. A shortage exists when supply is greater than demand.
Answer:
False
6. Public goods are often provided by the government.
Answer:
True
7. Price controls are never used by governments.
Answer:
False
8. Natural disasters can affect the supply of goods.
Answer:
True
The Price Puzzle What Drives the Market Class 9 Match the Following
Question 1.
| Column A | Column B |
| (A) Demand | (i) Quantity producers sell |
| (B) Supply | (ii) Quantity consumers buy |
| (C) Shortage | (iii) Demand exceeds supply |
| (D) Surplus | (iv) Supply exceeds demand |
Options:
(a) (A) – (ii), (B) – (i), (C) – (iii), (D) – (iv)
(b) (A) – (i), (B) – (ii), (C) – (iv), (D) – (iii)
(c) (A) – (iii), (B) – (iv), (C) – (ii), (D) – (i)
(d) (A) – (iv), (B) – (iii), (C) – (i), (D) – (ii)
Answer:
(a) (A) – (ii), (B) – (i), (C) – (iii), (D) – (iv)
| Column A | Column B |
| (A) Demand | (ii) Quantity consumers buy |
| (B) Supply | (i) Quantity producers sell |
| (C) Shortage | (iii) Demand exceeds supply |
| (D) Surplus | (iv) Supply exceeds demand |
Question 2.
| Column A | Column B |
| (A) Roads | (i) Government intervention. |
| (B) Price ceiling | (ii) Public good |
| (C) Technology | (iii) increases supply |
| (D) Minimum Support Price | (iv) Protects farmers |
Options:
(a) (A) – (i), (B) – (ii), (C) – (iii), (D) – (iv)
(b) (A) – (ii), (B) – (i), (C) – (iii), (D) – (iv)
(e) (A) – (iii), (B) – (iv), (C) – (ii), (D) – (i)
(cl) (A) – (iv), (B) – (iii), (C) – (i), (D) – (ii)
Answer:
(b) (A) – (ii), (B) – (i), (C) – (iii), (D) – (iv)
| Column A | Column B |
| (A) Roads | (ii) Public good |
| (B) Price ceiling | (i) Government intervention. |
| (C) Technology | (iii) increases supply |
| (D) Minimum Support Price | (iv) Protects farmers |