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Role of Government in Determination of Price and Quantity

NIOS · Class 10 · Economics

Complete topic list for Role of Government in Determination of Price and Quantity in NIOS Class 10 Economics. Key concepts, sub-topics, and what to focus on for board exams.

98 questions30 flashcards5 concepts

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4 Topics · NIOS Class 10 Economics

Topics in Role of Government in Determination of Price and Quantity

1

1. Administered Price and Equilibrium Price

  • Without government intervention, equilibrium price is determined by demand and supply.
  • When the market price is too high for consumers or too low for producers, government intervenes.
  • Government may fix price below equilibrium price to protect consumers.
2

2. Control Price, Rationing, and Black Marketing

  • Control price is the maximum price fixed by government.
  • It is generally lower than equilibrium price.
  • It is fixed to protect consumers, especially when production is less than demand.
3

3. Support Price

  • Support price is the minimum price fixed by government.
  • It is generally higher than equilibrium price.
  • It protects producers, especially farmers.
4

4. Token Price

  • Token price is charged for necessary services.
  • It is fixed much below the per unit cost of production.
  • It is used for medical services, health services, and education services.

Key Concepts

Central concept: Government intervention in price determination and distribution of goods and services

Equilibrium priceAdministered priceControl priceSupport priceToken priceDual priceRationingBlack marketing

Frequently Asked Questions

What are the important topics in Role of Government in Determination of Price and Quantity for NIOS Class 10 Economics?
Role of Government in Determination of Price and Quantity covers several key topics that are frequently asked in NIOS Class 10 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Role of Government in Determination of Price and Quantity — NIOS Class 10 Economics?
Understand the core concepts first, then work through the 98 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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