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

8 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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Jaime

22 days 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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Nichelle

23 days 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

25 days ago

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

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Lelia

25 days 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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Felicia

7 days ago

B) a surplus in the market

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Deangelo

8 days ago

A) a shortage in the market

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Lemuel

1 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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Jin

1 days ago

B) a surplus in the market

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Paris

18 days ago

A) a shortage in the market

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Mary

1 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

1 months ago

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

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