CIMA Exam CIMAPRA17-BA1-1 Topic 1 Question 81 Discussion

Actual exam question for CIMA's CIMAPRA17-BA1-1 exam

Question #: 81
Topic #: 1

[All CIMAPRA17-BA1-1 Questions]

If the price of a good is held above the equilibrium price, the result will be

Aa shortage in the market

Ba surplus in the market

Cexcess demand for the good

Dan increase in the demand for the good

Show Suggested Answer

Suggested Answer: D

by Tresa at Feb 10, 2024, 12:49 PM

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Marcelle

25 days ago

Price ceiling, huh? Sounds like someone's trying to control the free market. All I know is, if the price is too high, I'm not buying! Time to start a black market for this good.

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Dyan

10 days ago

Yeah, that's right. It means there won't be enough of the good to go around.

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Lavonda

11 days ago

I heard if the price is above equilibrium, there will be a shortage.

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Jaime

1 months ago

Ooh, a trick question! If the price is fixed above the equilibrium, the demand will drop, so D - an increase in the demand for the good. Wait, what? I think I need to brush up on my Econ 101.

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Bettina

4 days ago

I think the answer is A) a shortage in the market.

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Nichelle

1 months ago

I disagree, I think the answer is B) a surplus in the market. When the price is too high, producers will produce more than consumers want to buy.

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Denise

1 months ago

I agree with King, because if the price is above equilibrium, there will be more demand than supply.

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Lelia

1 months ago

Oh, I know this one! If the price is artificially high, the market will have more buyers than sellers. B - a surplus in the market. Capitalism at its finest!

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Adelina

4 days ago

B) a surplus in the market

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Tenesha

13 days ago

A) a shortage in the market

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Felicia

24 days ago

B) a surplus in the market

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Deangelo

25 days ago

A) a shortage in the market

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Lemuel

2 months ago

Hmm, let's see. If the price is held above the equilibrium, the demand will exceed the supply. That's gotta be C - excess demand. Textbook stuff, really.

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Chuck

17 days ago

C) excess demand for the good

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Jin

19 days ago

B) a surplus in the market

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Paris

1 months ago

A) a shortage in the market

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Mary

2 months ago

Ah, the old price ceiling dilemma! I remember this one from my Econ 101 days. Obviously, the answer is A - a shortage in the market. Classic supply and demand, folks.

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King

2 months ago

I think the answer is A) a shortage in the market.

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