WorksheetsC2 : SET 3 - DEMAND AND SUPPLY THEORY
Total questions: 10
Worksheet time: 3mins
When the decrease in the price of one item causes the demand for another item to decrease, relation of the items are; _____________.
complements
inferior
normal
substitutes
“The quantity demanded for Nescafe’ has decreased”. This statement means _______________.
Nescafe’ consumers have an increase in income.
the price of Nescafe’ increased
the price of Indocafe’ has increased
Nescafe’s advertising is not as effective as in the past.
A likely example of complementary goods would be _______________.
burgers and hotdogs
petrol and automobiles
burgers and french-fries
Coke and Pepsi
An increase in the price of one product will increase the quantity demanded of another product and vice versa, applies to _______________.
substitutes goods.
complementary goods.
inferior goods.
normal goods.
Which of the following can lead to an increase in the
supply for good X?
A decrease in the number of seller of goods X.
An increase in the price of inputs used to make goods X.
An increase in consumer’s income, assuming goods X is a normal.
An improvement in technology used in production of goods X
Which of the following will NOT cause an increase in the market demand for Scholl (a brand of shoes)?
A decrease in the price of Scholl.
An increase in the price of Clerk (brand of shoes).
An increase in the price of shoes protection sprays.
An increase in income, if Scholl is s luxury goods
Which of the following shifts the demand curve for iPhone 7 to the right?
A decrease in the price of iPhone 7.
A decrease in consumer income if iPhone 7 is normal goods.
An increase in the price of iPhone 7.
An increase in consumer income if iPhone is normal goods.
As price fall, _______________.
demand rises.
quantity demand falls.
demand falls.
quantity demand rises.
Goods for which demand is negatively related to income
are called _______________.
normal
substitute
complement
inferior
In the market for tea, for some consumers
_________________.
cola is a complement.
coffee is a substitute.
sugar is a substitute.
green tea is a complement.
