Demand and Supply

Demand and Supply

10th Grade - University

20 Qs

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Demand and Supply

Demand and Supply

Assessment

Quiz

Social Studies, Business, Education

10th Grade - University

Practice Problem

Medium

Created by

Leonel Barreno

Used 160+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand?

The products and services consumers are likely to purchase.

The products a costumer would like to buy.

A service a customer would like to purchase.

A system of taxpaying.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In terms of Demand, what happens when the price of the products or services increases?

The demand increases.

The quantity demanded decreases.

The quantity demaded increases.

The demand decreases.

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What are the factors which affect the slopping curve of Demand?

The income effect

Technology

The law of diminishing marginal utility

The substitution effect.

Tastes/preferences

4.

OPEN ENDED QUESTION

2 mins • Ungraded

Regarding "demand", what is the substitution effect? Use a real-life example to explain it.

Evaluate responses using AI:

OFF

5.

OPEN ENDED QUESTION

2 mins • 1 pt

Regarding "demand", what is the income effect? Use a real-life example to explain it.

Evaluate responses using AI:

OFF

6.

OPEN ENDED QUESTION

2 mins • 1 pt

Regarding "demand", what is the law of diminishing marginal utility(satisfaction)? Use a real-life example to explain it.

Evaluate responses using AI:

OFF

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

What are the shifters(determiners) of demand?

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