A-Level - Demand & Supply

Quiz
•
Social Studies
•
10th Grade
•
Hard
Krisna Mukti Wibowo
Used 7+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 10 pts
An individual demand curve tells us how much:
a firm sells at various prices.
an individual will buy at various prices.
a group of firms will sell at various prices.
all people will buy at various prices.
2.
MULTIPLE CHOICE QUESTION
2 mins • 10 pts
A market demand curve tells us how much:
a firm sells at various prices.
an individual will buy at various prices.
a group of firms will sell at various prices.
all people will buy at various prices.
3.
MULTIPLE CHOICE QUESTION
2 mins • 10 pts
An individual supply curve tells us how much:
a firm sells at various prices.
an individual will buy at various prices.
a group of firms will sell at various prices.
all people will buy at various prices.
4.
MULTIPLE CHOICE QUESTION
2 mins • 10 pts
A market supply curve tells us how much:
a firm sells at various prices.
an individual will buy at various prices.
a group of firms will sell at various prices.
all people will buy at various prices.
5.
MULTIPLE CHOICE QUESTION
2 mins • 10 pts
The diagram shows a demand curve for a normal good.
Which of these statements correctly describes what the demand curve shows?
The quantity changes in proportion to a change in price.
A fall in price leads to a fall in quantity demanded.
As price changes, a greater or smaller quantity is demanded.
As demand increases, so does price.
6.
MULTIPLE CHOICE QUESTION
2 mins • 10 pts
Suppose there is a large increase in the price of a bottle of iced tea. How is this likely to affect the demand curve for bottles of cola?
There will be an extension of demand along the demand curve for cola.
The demand curve for cola will remain unchanged.
The demand curve for cola will shift to the left.
The demand curve for cola will shift to the right.
7.
MULTIPLE CHOICE QUESTION
2 mins • 10 pts
Which of the following is likely to shift an individual’s demand curve for a Range Rover Evoque luxury SUV to the left?
An increase in price of a substitute SUV.
A decrease in price of the Range Rover Evoque SUV.
A decrease in an individual’s income.
A five-star review of the Range Rover Evoque in a motoring magazine.
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