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CIMAPRA17-BA1-1 Exam - 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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Sunshine

8 months ago

Just to clarify, it’s B - a surplus happens when prices are too high!

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Zoila

8 months ago

I thought higher prices meant more demand, not surplus?

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Santos

8 months ago

Wait, how does that even work?

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Sharen

8 months ago

I agree, B is the right answer!

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Nan

9 months ago

Definitely a surplus in the market.

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Graciela

9 months ago

I vaguely recall something about how prices above equilibrium can cause issues in the market, but I can't remember the exact details.

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Chauncey

9 months ago

I practiced a similar question where a price above equilibrium definitely resulted in a surplus. So, I’m leaning towards option B.

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Thurman

9 months ago

I'm not entirely sure, but I feel like a higher price might create excess demand instead. I need to double-check that concept.

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Nicolette

9 months ago

I think if the price is above equilibrium, it leads to a surplus, right? I remember something about supply exceeding demand in that case.

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Cyril

9 months ago

I'm a little confused on this one. Is it saying the price is held above the equilibrium, or that the price is the equilibrium price? I want to make sure I understand the question properly.

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Valentine

9 months ago

I'm confident the answer is A - a shortage in the market. That's what happens when the price is artificially set above the equilibrium level.

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Elfriede

9 months ago

Okay, I remember learning about this in class. The key is that when the price is above the equilibrium, quantity demanded will be less than quantity supplied, leading to a surplus.

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Ramonita

9 months ago

This one seems pretty straightforward. If the price is held above the equilibrium price, there will be a shortage in the market.

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Jesusita

10 months ago

Hmm, I'm not totally sure about this one. I'll have to think it through carefully before answering.

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Markus

10 months ago

I'm a little confused by this question. There are a few different methods mentioned, and I'm not sure which one would be the most appropriate for this scenario. I'll need to carefully consider the details and review my course materials to make the best choice.

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Helene

10 months ago

I'm a bit confused on this one. I know quality is important in agile, but I'm not sure if it's just the team or if other stakeholders are involved too. I'll have to think about this one.

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Haley

10 months ago

No problem, I've got this. Expanding the binomial and then combining like terms is a straightforward process. And evaluating the natural log of e^3x is just 3x. I'll have the simplified expression in no time.

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Marcelle

1 year 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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Ahmed

1 year ago

Looks like we might have to find another way to get what we need.

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Dyan

1 year ago

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

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Lavonda

1 year ago

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

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Jaime

1 year 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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Leota

1 year ago

Oh, I see now. It's not D) an increase in the demand for the good.

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Tabetha

1 year ago

Actually, it's C) excess demand for the good.

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Jamika

1 year ago

No, I believe it's B) a surplus in the market.

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Bettina

1 year ago

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

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Nichelle

1 year 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 year 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 year 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

1 year ago

B) a surplus in the market

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Tenesha

1 year ago

A) a shortage in the market

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Felicia

1 year ago

B) a surplus in the market

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Deangelo

1 year ago

A) a shortage in the market

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Lemuel

1 year 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

1 year ago

C) excess demand for the good

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Jin

1 year ago

B) a surplus in the market

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Paris

1 year ago

A) a shortage in the market

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Mary

1 year 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 year ago

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

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