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WorksheetsC2 : SET 2 - DEMAND AND SUPPLY THEORY
Total questions: 10
Worksheet time: 4mins
A change in quantity demand occurs ______________.
movement along the demand curve.
when the economy is in full employment.
when there is a shift to a new demand curve.
when there is a change from an agricultural economy to an industrial economy.
The shift in the supply curve from S0 to S1 shows ; _______________.
an increase in supply.
a decrease in supply.
an expansion in supply.
a contraction in supply.
The law of demand states that other things remaining
unchanged, price and __________.
sales are positively related.
incomes are positively related.
quantities demanded are positively related.
quantities demanded are inversely related.
A movement along supply a supply curve can be influenced by _______________.
price of the goods.
level of technology.
production costs.
speculation.
A rise in quantity demand of goods is caused by _________________.
increase of individual taxation rates.
decrease of consumer income.
decrease prices of substitute goods.
decrease prices of complementary goods.
Which of the following is consistent with the law of supply?
As the price of smartphones falls, the supply of smartphones increases, ceteris paribus.
As the price of smartphone rise, the quantity supplied of smartphones increases, ceteris paribus.
As the price of smartphones rise, the supply of smartphones increases, ceteris paribus.
As the price of smartphones rise, the quantity supplied of smartphones decreases, ceteris paribus
The demand curve for rice represents the relationship between the quantity of rice demanded and the ___________.
A. prices of factors of production.
B. general price level.
C. price of rice.
D. supply of rice
prices of factors of production
general price level
price of rice
supply of rice
Which is consistent with the law of demand?
A decrease in the price of sandwiches causes a decrease in the quantity of sandwiches demanded.
A decrease in the price of tea causes no change in the quantity of tea demanded.
An increase in the price of pizza causes an increase in the quantity of pizza demanded.
An increase in the price of hamburgers causes a decrease in the quantity of hamburgers demanded.
According to the law of supply ________________.
its describe the demand curve shift.
its describe the negative relationship between price and quantity supply.
its describe the positive relationship between price and quantity supply.
its describe the price changes effect from quantity supply changes.
The ‘law of demand’ implies the; __________________.
as prices rise, demand decreases.
as prices fall, quantity demanded increases.
as prices fall, demand increases.
as prices rise, quantity demanded increases.
