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Topic 2: Demand & Supply

Authored by DR SYEDDIN

Education

University

Used 6+ times

Topic 2: Demand & Supply
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10 questions

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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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