Millionaire Mode

General Equilibrium

Question 1 of 14

In a general equilibrium model, what is the role of the price mechanism?

  1. To allocate resources efficiently among consumers and producers.
  2. To determine the equilibrium quantity of goods and services.
  3. To ensure that supply and demand are equal in all markets.
  4. All of the above.

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000