Demand and supply Second Block

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.

What are the factors which affect the slopping curve of Demand? (hint:select more than one option)

• The income effect

• Technology

• The law of diminishing marginal utility

• The substitution effect.

• Tastes/preferences

Regarding "demand", there's a direct relationship between "price" and "quantity demanded".

• True

• False

Regarding "demand", when the price increases, the quantity demanded:

• increases too.

• decreases.

Regarding "supply", when the price increases, the quantity supplied:

• increases too.

• decreases.

Regarding supply, what is surplus?

• When the quantity supplied is greater than the quantity demanded.

• When the quantity demanded is greater than the quantity supplied.

Regarding supply, what is shortage?

• When the quantity supplied is greater than the quantity demanded.

• When the quantity demanded is greater than the quantity supplied.

What does this curve represent?

• Supply

• Demand

• Equillibrium

• Quantity

What does this curve represent?

• Demand

• Supply

• Equilibrium

• Shortage

If the price of printers goes down, what happens in the market for ink cartridges?

• Supply increases.
• Supply decreases.
• Demand increases.
• Demand decreases