Free CBSE Class 11 Microeconomics Chapter 13 Market Equilibrium Notes PDF

Market Equilibrium brings demand and supply together to determine equilibrium price and quantity. The chapter analyses excess demand, excess supply and the effects of shifts in demand and supply, including price ceilings and price floors.

Board: CBSE · Class: 11 · Updated: 2026-08-31 · Access: Free, no registration

Important topics covered

Equilibrium price and quantity
Excess demand and excess supply
Effects of changes in demand
Effects of changes in supply
Price ceiling and price floor

Exam-focused revision checklist

Show adjustment from disequilibrium to equilibrium.
Use diagrams to analyse shifts one at a time.
Explain binding price controls and their likely market effects.

Important questions with answer guidance

What should students explain about Equilibrium price and quantity?

Equilibrium price and quantity is an important part of Market Equilibrium. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Show adjustment from disequilibrium to equilibrium.

What should students explain about Excess demand and excess supply?

Excess demand and excess supply is an important part of Market Equilibrium. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Use diagrams to analyse shifts one at a time.

What should students explain about Effects of changes in demand?

Effects of changes in demand is an important part of Market Equilibrium. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Explain binding price controls and their likely market effects.

What should students explain about Effects of changes in supply?

Effects of changes in supply is an important part of Market Equilibrium. Begin with its meaning, explain the main elements or relationship clearly, and support the answer with an example, schedule or diagram wherever the chapter requires it. Show adjustment from disequilibrium to equilibrium.

Chapter MCQs with answers

MCQ 1: Which of the following is directly covered in Chapter 13: Market Equilibrium?

Meaning and scope of economics
Equilibrium price and quantity
What, how and for whom to produce
Meaning and measurement of utility

Answer: B. Equilibrium price and quantity is one of the core topics covered in this chapter.

MCQ 2: Which of the following is directly covered in Chapter 13: Market Equilibrium?

Production possibility curve and schedule
Total utility and marginal utility relationship
Excess demand and excess supply
Indifference curve and indifference map

Answer: C. Excess demand and excess supply is one of the core topics covered in this chapter.

MCQ 3: Which of the following is directly covered in Chapter 13: Market Equilibrium?

Law of diminishing marginal utility
Properties of indifference curves
Law of demand and its assumptions
Effects of changes in demand

Answer: D. Effects of changes in demand is one of the core topics covered in this chapter.

MCQ 4: Which of the following is directly covered in Chapter 13: Market Equilibrium?

Effects of changes in supply
Budget set and budget line
Movement along and shift of the demand curve
Geometric or point method

Answer: A. Effects of changes in supply is one of the core topics covered in this chapter.

Download Market Equilibrium notes PDF for CBSE Class 11 Microeconomics

Use the complete chapter PDF for school tests, board-exam revision and concept review. View or download the free Market Equilibrium notes PDF.

Why you can trust this study resource

This chapter-specific resource is organised by Smit Sir for Class 11 Commerce students. It is free to view and download and should be used alongside NCERT questions and the latest official CBSE sample papers.

Frequently asked questions

Are these Market Equilibrium notes free?

Yes. The complete CBSE Class 11 chapter PDF can be viewed online or downloaded without payment or registration.

What is covered in Chapter 13?

The notes cover Equilibrium price and quantity, Excess demand and excess supply, Effects of changes in demand and the other important concepts listed on this page.

How should I use these notes for CBSE exam revision?

Start with the overview, revise each key topic, read the complete PDF and finish with the exam checklist, important questions and MCQs. Also practise NCERT questions and the latest official CBSE sample papers.

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