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WorksheetsTHEORY OF DEMAND
Total questions: 15
Worksheet time: 30mins
Which of the following is NOT a determinant of demand for diesel?
The price of petrol
The price of diesel
The price of automobile
Consumer’s income
Sugar and honey are viewed as substitute for each other in many cooking applications. If the price of sugar rises, we would expect _________________.
the demand for honey to increase
the quantity demanded of honey to increase
the demand for honey to decrease
the quantity demanded of honey to decrease
The law of demand shows the relationship between __________________.
consumer’s income and demand.
population and demand.
demand and supply.
price and quantity demand.
The definition of demand in an economic perspective is ________________.
the desire to purchase goods and services at a certain price.
the desire of all individuals in a market to purchase goods.
the desire of an individual to obtain goods and services, supported by the ability to pay a certain price.
he ability of an individual to spend his/her income to purchase goods and services.
contraction in demand is caused due to ----in price of the commodity
(a)
what are the factors affecting demand of a good
The desire, ability, and willingness to buy a product
demand
supply
consumption
production
normal goods have negative income effect
true
false
none of the above
Which of the following factors cause a shift in a demand curve?
Consumer’s income.
Producer’s goals.
Level of technology.
Price of the goods.
