Demand and Supply
Authored by Leonel Barreno
Social Studies, Business, Education
10th Grade - University
Used 162+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is demand?
The products and services consumers are likely to purchase.
The products a costumer would like to buy.
A service a customer would like to purchase.
A system of taxpaying.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In terms of Demand, what happens when the price of the products or services increases?
The demand increases.
The quantity demanded decreases.
The quantity demaded increases.
The demand decreases.
3.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What are the factors which affect the slopping curve of Demand?
The income effect
Technology
The law of diminishing marginal utility
The substitution effect.
Tastes/preferences
4.
OPEN ENDED QUESTION
2 mins • Ungraded
Regarding "demand", what is the substitution effect? Use a real-life example to explain it.
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5.
OPEN ENDED QUESTION
2 mins • Ungraded
Regarding "demand", what is the income effect? Use a real-life example to explain it.
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OFF
6.
OPEN ENDED QUESTION
2 mins • Ungraded
Regarding "demand", what is the law of diminishing marginal utility(satisfaction)? Use a real-life example to explain it.
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OFF
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
What are the shifters(determiners) of demand?
(a)
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