Market Demand & Supply

•The behavior of suppliers (producers) on their willingness and ability to make products available at given prices.

• Demand

• Demand Curve

• Supply

• Supply Curve

What do you call the graphical presentation of a demand schedule?

• Quantity Demand

• Demand Curve

• Quantity Supply

• Supply Curve

Which of the following is NOT a non-price determinants of demand?

• Income

• Taste and Preferences

• Technology

• Number of buyers

•Refers to the tabular presentation of prices and their corresponding quantities supplied by the supplier.

• Demand Curve

• Demand Schedule

• Supply Curve

• Supply Schedule

What is the impact to supply if there is an increase in number of sellers of the product?

• Increase

• Decrease

What is the impact to demand if there is an increase of income of the buyers?

• Increase

• Decrease

Which law explains that "when prices of products increase, the tendency of consumers is to buy less of the product and when the price decreases consumer buy more of the products"?

• Law of Supply

• Law of Demand

This law states that "when prices of commodities tend to increase, the quantity being supplied by producers also tend to increase; while when prices of commodities decrease, the corresponding quantities being supplied also tend to decrease".

• Law of Demand

• Law of Supply

What is the driving force behind the behavior of producers bringing about the law of supply?

• Profit Motive

• Product Motive

• Customer Motive

• Personal Motive

Refers to the behavior of people with regard to their willingness and ability to buy(purchasing power) products at given prices

• Demand

• Demand Curve

• Supply

• Supply Curve