Supply and demand

​By Ms. Fatima

Multiple Choice

A new viral video makes a specific brand of skateboard extremely popular among teenagers. What is the most likely immediate effect in the market for that skateboard?

• The demand for the skateboard will decrease.

• The demand for the skateboard will increase.

• The supply of the skateboard will increase.

• The price of the skateboard will fall.

Multiple Choice

Many people in a city get a significant pay raise at work. What is the likely effect on the demand for normal goods like restaurant meals?

• Demand will increase.

• Demand will decrease.

• It will have no effect.

• Supply will increase.

Multiple Choice

If the price of pizza suddenly dropped to half its original price, what does the Law of Demand predict?

• Demand will increase.

• Demand will decrease.

• It will have no effect.

• Supply will increase.

Multiple Choice

The price of movie tickets in cinemas rises dramatically. What is the likely effect on the demand for at-home streaming services?

• It will have no effect on streaming services.

• Demand for streaming services will increase.

• Supply of streaming services will increase.

• Demand for streaming services will decrease.

Poll

You own a company making cool trendy phone cases. If the price you could sell each case for suddenly doubled, would you make:

• fewer cases

• many more cases

• the same amount of cases

Multiple Choice

A factory that produces chocolate bars invents a new machine that makes the bars twice as fast. How will this affect the market?

• The cost of production will increase.

• The supply of chocolate bars will increase.

• The supply of chocolate bars will decrease.

• The demand for chocolate bars will increase.

Multiple Choice

A Saudi farmer is willing to sell 500 boxes of dates when the price is SAR 10 per box, but is willing to sell 1,000 boxes when the price is SAR 20 per box of dates , this demonstrates:

• A shortage.

• A change in taste.

• The Law of Demand.

• The Law of Supply.

Multiple Choice

If the price of coffee beans, a key ingredient for lattes, doubles, what does the Law of Supply suggest will happen to the quantity of lattes supplied by coffee shops?

• The quantity supplied will increase.

• The quantity demanded will decrease.

• The quantity supplied will decrease.

• The quantity supplied will stay the same.