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Price Determination and Market Equilibrium · CSEC Economics

18 past-paper questions on Price Determination and Market Equilibrium, part of Section 3: Demand and Supply, from every CSEC Economics paper on Quelpr.

Practise Price Determination and Market Equilibrium
  1. 4(a)2 marks· CSEC Economics · May/June 2007 · Paper 2Define the term 'market'.
  2. 4(d)(i)2 marks· CSEC Economics · May/June 2007 · Paper 2Describe the market situation at a price of $8.
  3. 4(d)(ii)4 marks· CSEC Economics · May/June 2007 · Paper 2The government imposes a fixed price of $6 on Product X. With the aid of a diagram, discuss the effects of this action.
  4. 1(d)6 marks· CSEC Economics · May/June 2009 · Paper 2With the aid of a diagram, discuss TWO effects of setting a price ceiling below the equilibrium price for rice.
  5. 1(a)2 marks· CSEC Economics · May/June 2010 · Paper 2Define the term 'ceteris paribus'.
  6. 2(c)6 marks· CSEC Economics · May/June 2013 · Paper 2Using a diagram, explain market adjustments when a surplus occurs.
  7. 7(a)2 marks· CSEC Economics · May/June 2014 · Paper 2Define the term 'market equilibrium'.
  8. 7(b)2 marks· CSEC Economics · May/June 2014 · Paper 2Identify the TWO main market forces in an economy.
  9. 1(a)(i)1 mark· CSEC Economics · May/June 2015 · Paper 2Identify the equilibrium price.
  10. 1(a)(ii)1 mark· CSEC Economics · May/June 2015 · Paper 2Identify the equilibrium quantity.
  11. 1(c)(i)3 marks· CSEC Economics · May/June 2015 · Paper 2Explain what happens in the market when the price per sno-cone is $4.
  12. 1(c)(ii)3 marks· CSEC Economics · May/June 2015 · Paper 2Explain what happens in the market when the price per sno-cone is $1.
  13. 5(a)(i)2 marks· CSEC Economics · May/June 2015 · Paper 2Define the term 'Ceteris paribus'.
  14. 6(a)(i)2 marks· CSEC Economics · May/June 2017 · Paper 2Define the term 'Market equilibrium'.
  15. 6(a)(ii)2 marks· CSEC Economics · May/June 2017 · Paper 2Define the term 'Ceteris paribus'.
  16. 6(c)(i)2 marks· CSEC Economics · May/June 2017 · Paper 2Using the information in Table 2, identify the equilibrium price and quantity.
  17. 6(c)(ii)3 marks· CSEC Economics · May/June 2017 · Paper 2Explain the situation that would exist in the market if the price is $5.
  18. 6(c)(iii)3 marks· CSEC Economics · May/June 2017 · Paper 2Explain the situation that would exist in the market if the price is $1.

Related topics in Section 3: Demand and Supply