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Demand and Supply

Authored by Катерина Дерека

English

University

Used 2+ times

Demand and Supply
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10 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the relationship between supply and demand elasticity?

They are unrelated.
They are indirectly related.
They are directly proportional.
They are inversely proportional.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the relationship between demand and price?

They are unrelated.
They are indirectly related.
They are directly proportional.
They are inversely proportional.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is demand?

The desire for a certain economic product.
The ability to purchase a product.
The willingness to pay for a product.
All of the above.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a Personal Scale of Preferences for goods and services?

A ranking of goods and services based on their necessity.
A ranking of goods and services based on their quality.
A ranking of goods and services based on their popularity.
A ranking of goods and services based on their price.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is Elastic Demand?

When the demand is not affected by changes in quantity.

When the demand is slightly affected by changes in price.

When the demand is not affected by changes in price.

When the demand is greatly affected by changes in price.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the role of Money in exchange between goods?

Money is not necessary for exchange between goods.
Money has no value in exchange between goods.
Money serves as a means of exchange between goods.
Money is the only means of exchange between goods.

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is Inelastic Demand?

When the demand is not affected by changes in price.

When the demand is greatly affected by changes in price.

When the demand is slightly affected by changes in price.

When the demand is not affected by changes in quantity.

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