demand

demand

11th Grade - University

10 Qs

quiz-placeholder

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demand

demand

Assessment

Quiz

Social Studies

11th Grade - University

Practice Problem

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Created by

Sonika Parmar

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

____________goods have positive income effect.

Normal

Complementary

Inferior

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Demand for which of the following goods does not change with change in Income of the consumer?

Normal Goods

Necessity goods

Inferior Goods

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If with the rise in the price of good Y, the demand for good X rises, the two goods are:

Substitutes

Compliments

Not related

Jointly demanded

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

A rise in the price of petrol will ____ the demand for cars

Decrease

Increase

Not affect

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following is not a determinant of a consumer's demand for a commodity?

income

population

price of related goods

taste

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of demand refers to the

inverse relationship between the price of the commodity and the quantity demanded of the commodity per time period.

direct relationship between the desire of a consumer has for a commodity and the amount of the commodity that the consumer demands.

inverse relationship between consumer's income and the amount of the commodity that the consumer demands.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price of a good increases, then

the demand for complementary good will increase

the demand for the good will increase.

the demand for substitute good will increase.

the demand for the good will decrease.

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