Theory of demand and supply

Theory of demand and supply

University

10 Qs

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Theory of demand and supply

Theory of demand and supply

Assessment

Quiz

Social Studies

University

Medium

Created by

Nor Anuar

Used 9+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the law of demand shows the relationship between

income and demand

price and quantity supplied

demand and supply

price and quantity demanded

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an increase in the price of car; ceteris peribus, will cause demand curve for petrol to

remain unchanged

shift to the left

shift to the right

become steeper

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which of the following caused a movement along the curve

decrease in consumer income

increase in consumer satosfaction

decrease in the price of the good

decrease in the quantity demanded of the good

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

when price of good A rises, demand for B falls. what are they?

complement goods

substitute goods

inferior goods

luxury goods

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

law of supply states that

the higher the income, higher quantity supplied

higher the demand, higher the supply

higher the price, higher the quantity supplied

higher the price, lower the quantity supplied

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

supply of cars will increase if

demand for cars decrease

government reduces tax on car manufacturer

price of car falls

petroleum resources are exhausted

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

which of the following will not cause supply curve to shift?

change in technology

change in tax structure

change in price of good

change in factor of production

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