Topic 2: Demand & Supply
Quiz
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Education
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University
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Medium
DR SYEDDIN
Used 6+ times
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Normally the demand curve will have a _______________ shape.
Upward sloping
Downward sloping
Vertical
Horizontal
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Law of demand shows a relation between the ___________.
Quantity demand and quantity supply of a commodity
Income and quantity demand of a commodity
Price and quantity of a commodity
Income and price of a commodity
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is not a cause of the shift in demand for a product?
Change in the price of substitutes
Change in the income of a consumer
Change in the price of a product
None of the above
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Demand for goods and services refer to:
Desire for the goods & services
Need for the goods & services
Quantity demanded of that goods & services
Quantity of the goods & services demanded at a certain price during any particular period of time
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Movement along the same demand curve shows:
Expansion of demand
Expansion of supply
Expansion & Contraction of demand
Increase & decrease of demand
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Law of Demand: A _______ or an inverse relationship
between quantity & price.
negative
inverse
positive
direct
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Change in quantity demand determine by price factor,
Change in demand determine by
statistic factor
non price factor
quantity factor
accounting factor
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