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Demand and Supply Quiz

Authored by Trần Thị Mai Sau

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Demand and Supply Quiz
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51 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following would cause a movement along the demand curve?

A change in income

A change in consumer preference

A change in the price of the good itself

A change in the price of a substitute

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The law of demand states that, ceteris paribus:

Demand increases when price increases

Demand and price are positively related

As price increases, quantity demanded decreases

Quantity demanded is unaffected by price

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is a determinant of demand?

Technology

Price of inputs

Consumer income

Number of sellers

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If two goods are complements, a decrease in the price of one will:

Decrease demand for the other

Not affect the other

Increase demand for the other

Cause supply to shift

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A shift to the right in the demand curve indicates:

Decrease in demand

Increase in demand

Lower price

Decrease in supply

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which scenario would cause a leftward shift in the demand curve for coffee?

Decrease in tea prices

Increase in income (coffee is a normal good)

Increase in population

Coffee becomes more fashionable

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If income increases and the demand for instant noodles decreases, instant noodles are considered a:

Normal good

Inferior good

Complementary good

Luxury good

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