“Under conditions of perfect competition, the price at which any given product

Question

“Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and the demand being equal.” This statement is known as the:

Options:

A . Law of diminishing return

B . Law of supply

C . Law of demand

D . Law of supply and demand

Answer: Option D

Submit Your Solution Below and Earn Points !

Next Question

Submit Solution

More Questions on This Topic :

Question 1. The common ratio is the ratio of:....

Question 2. The deliberate lowering of the price of a nation’s currency in terms of the accepted standard (Gold, American dollar o....American dollar or the British pound) is known as ______.

Question 3. The declining balance method is also known as ______.....

Question 4. The true value of interest rate computed by equations for compound interest for a 1 year period is known as ______.....

Question 5. Capitalized cost of a project is also known as ______.....

Question 6. Salvage value is sometimes known as ______.....

Question 7. The ability to convert assets to cash quickly is known as ______.....

Question 8. The ability to meet debts as they become due is known as ______.....

Question 9. The depletion allowance method of computing depletion is commonly known as ______.....

Question 10. The profit derived from a project or business enterprise without consideration of obligations to financial contributors ....claims of others based on profit is known as ______.

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

Pie Chart - Test Paper 1 Data Interpretation Reasoning & DI

Tabulation - Test Paper 2 Data Interpretation Reasoning & DI

Test Paper 1 Direction Sense Test Reasoning & DI

ICA , RDIC,GFM Free Modal Test Paper - Non - Technical Branch Old Syllabus 2022 - SAIL Junior Officer E0

GFM Combined 1 Free Revision Test SAIL JO E-0

Submit Solution

More Questions on This Topic :

Latest Videos

Latest Test Papers