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WorksheetsTheory of Demand and Supply
Total questions: 10
Worksheet time: 8mins
What happened to a supply curve when supply goes down?
moves left
moves rights
moves up
moves down
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 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.
Mr Coyote goes to the ticket booth to buy tickets for a Spurs game. Mr. Coyote is told that the game is sold out and no tickets are available. Which best explains why there are no basketball tickets available?
The arena forgot to print enough tickets.
The supply of tickets was greater than the demand.
The arena charged too much money for each ticket.
The demand for tickets was greater than the supply.
If a wave of Peruvian immigrants migrated to south Florida, how might this affect the demand for Peruvian goods in the region?
Demand would increase
Demand would decrease
Demand would be unchanged
Quantity Demanded would increase
Suppliers will normally offer more for sale at high prices and less for sale at lower prices
Quantity supplied
Law of Supply
total production
short run
