According to the law of demand, a decrease in price
Supply, Demand and Equilibrium Test MRU.org Lesson Plan 5

Quiz
•
Social Studies
•
10th Grade
•
Hard
Lora Yorch
FREE Resource
31 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Shifts the demand curve to the left.
Shifts the demand curve to the right.
Does not shift the demand curve, but results in a movement ALONG the demand curve to the left.
Does not shift the demand curve, but results in a movement ALONG the demand curve to the right.
There will be no change.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following will shift the demand curve for oranges to the RIGHT except:
An increase in the price of apples, a substitute for oranges.
A new study shows that drinking fresh orange juice reduces the likelihood of kidney stones.
A new technology for orange picking makes harvesting oranges cheaper.
Consumers expect higher prices for oranges next month due to hurricanes destroying crops.
All of the above shift the demand curve to the RIGHT.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase in the price of yellow paint coating, an input for No. 2 pencils, will:
Cause the demand curve for No. 2 pencils to shift to the right.
Cause the supply curve for No. 2 pencils to shift to the left.
Cause the demand curve for ballpoint pens, a substitute for pencils, to shift to the left.
None of the above.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An increase in the price of roses will:
Definitely result in a shift to the right of the supply curve.
Definitely result in an increase in the quantity demanded of roses.
Definitely result in a decrease in the quantity demanded of roses.
Definitely result in a shift to the left of the demand curve.
Both A and C are true.
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
An increase in the price of oat milk, a substitute for almond milk, will:
Decrease the quantity demanded of almond milk.
Increase the quantity demanded of oat milk.
Shift the demand curve for oat milk to the left.
Shift the demand curve for almond milk to the right.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Take the market for fanny packs. If the price of a complement of fanny packs decreases,
The demand curve for fanny packs will shift to the right.
The demand curve for fanny packs will shift to the left.
There will be no shift in the demand curve for fanny packs, but instead there will be movement along the demand curve to the right.
There will be no shift in the demand curve for fanny packs, but instead there will be movement along the demand curve to the left.
The supply curve for fanny packs will shift to the right.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following will cause a movement ALONG the supply curve for lumber?
A new area of forest is purchased for logging (cutting trees for lumber).
Consumer demand for decks and patios increases 10x fold.
Labor costs increase, prompting loggers to have to pay more for lumberjacks.
All of the above.
None of the above.
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