Hukum permintaan menyatakan bahwa...

• Jika harga naik, jumlah yang diminta meningkat

• Jika harga turun, jumlah yang diminta menurun

• Jika harga naik, jumlah yang diminta menurun

• Harga tidak mempengaruhi jumlah yang diminta

Goods whose demand increases when income rises are called...

• Inferior

• Normal

• Giffen

• Complementary

If the price of coffee rises, the demand for sugar tends to...

• Increase because both are substitute goods

• Decrease because both are complementary goods

• Remain the same because they are unrelated

• Increase because sugar is a luxury good

A rightward shift of the demand curve is caused by...

• A decrease in the price of the good itself

• An increase in consumer income for normal goods

• A decrease in the price of substitute goods

• A change in tastes that are unfavorable

Equilibrium price occurs when...

• The quantity demanded is greater than the quantity supplied

• The quantity supplied is greater than the quantity demanded

• The quantity demanded is equal to the quantity supplied

• The price is set by the government

If the demand function is Qd = 200 - 10P and the supply function is Qs = -40 + 5P, the equilibrium price is...

• 10

• 12

• 16

• 20

Surplus occurs when...

• Price is below equilibrium

• Price is above equilibrium

• Demand and supply are balanced

• There are no buyers willing to buy

An example of a Giffen good is...

• Gold

• Premium rice

• Luxury cars

• Goods with income effect greater than substitution effect

A factor that does not affect demand is...

• The price of the good itself

• Consumer income

• Production technology

• Future price expectations

If the supply curve shifts to the left, this may be caused by...

• A decrease in the price of raw materials

• An increase in technology

• An increase in the price of production factors

• An increase in the number of sellers