Which of the following is considered a demand shifter?
TEST 4. The Demand and Supply. PV

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Education
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University
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Easy
DINARA KURBANGALIEVA
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The price of the good itself.
The price of a substitute good.
The technology used in production.
The number of sellers in the market.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What economic term refers to the situation in which resources are insufficient to meet all wants and needs?
Scarcity
Demand
Surplus
Opportunity cost
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the law of demand?
As the price of a good rises, the quantity demanded increases
As the price of a good rises, the quantity demanded decreases
There is no relationship between price and quantity demanded
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the present value of $1,000 to be received in 3 years with an annual discount rate of 5%?
$863.84
$952.38
$848.93
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When representing supply and demand on a graph, what does the intersection of the two curves indicate?
Maximum price
Equilibrium price and quantity
Price floor
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does the law of demand state about the relationship between price and quantity demanded?
Inverse relationship
Direct relationship
No relationship
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In economics, what is the term used to describe a table that shows the quantity of a good that buyers are willing and able to purchase at various prices?
Demand schedule
Supply schedule
Price schedule
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