PE 1.1

PE 1.1

University

15 Qs

quiz-placeholder

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PE 1.1

PE 1.1

Assessment

Quiz

Education

University

Hard

Created by

AMIRUL (POLIMAS)

Used 2+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does demand refer to?

a) The quantity of a product or service produced

b) The quantity of a product or service desired by buyers

c) The quantity of a product or service available in the market

d) The quantity of a product or service consumed by buyers

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the relationship between price and quantity demanded known as?

a) Supply curve

b) Demand curve

c) Demand relationship

d) Market equilibrium

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How is the quantity demanded affected by price changes?

a) Quantity demanded remains constant regardless of price changes

b) Quantity demanded decreases as price increases

c) Quantity demanded increases as price increases

d) Quantity demanded is inversely related to price changes

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the law of demand state?

a) As the price of a good increases, the demand for that good also increases.

b) As the price of a good increases, the demand for that good decreases.

c) As the price of a good decreases, the demand for that good also decreases.

d) As the price of a good decreases, the demand for that good increases.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

According to the law of demand, what happens to demand when the price of a good is higher and all other factors remain equal?

a) It remains constant.

b) It increases.

c) It decreases.

d) It fluctuates randomly.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How does the law of demand relate price and demand?

a) Higher prices lead to higher demand.

b) Lower prices lead to lower demand.

c) Higher prices lead to lower demand.

d) Lower prices lead to higher demand.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How is the basic demand relationship typically represented?

a) Through a vertical line on a graph

b) Through a horizontal line on a graph

c) Through a curve with a positive slope

d) Through a curve with a negative slope

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