It shows the relationship between the quantity demanded of a good and its price, all other influences on consumers’ planned purchases remaining the same.

Microeconomics quiz

Quiz
•
Business
•
University
•
Hard
Dilshoda Rahmonova
Used 47+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a) Supply curve
b) Demand curve
c) Consumer curve
d) Producer curve
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
______is a good that can be used in place of another good.
a) Normal goods
b) Complement
c) Inferior goods
d) Substitute
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
“Other things remaining the same, the higher the price of a good, the greater is the quantity supplied”. This is definition for what?
a) Law of economics
b) Law of demand
c) Law of supply
d) Consumer law
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As you know from the lecture, the supply of goods depends on several factors. Which of the following IS NOT RELEVANT to these factors ?
a) The price of the good
b) The prices of factors of production
c) The number of suppliers
d) The number of residents
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A movement along the supply curve shows a change in the quantity demanded.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price of a good changes but everything else remains the same, there is a movement along the demand curve.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____ is the price at with the quantity demanded equals the quantity supplied.
a) Equilibrium number
b) Equilibrium quantity
c) Equilibrium price
d) Equilibrium ratio
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