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Economics

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

State the types of demand.

a)

1

b)

2

c)

3

d)

4

2.

The law of demand states the___ relationship between price and quantity demanded, keeping other factors constant.

a)

Competitive

b)

Downward

c)

Inverse

d)

Normal

3.

In case of expansion in demand, there is a____ movement along the same demand curve.

a)

Upward

b)

Rightward

c)

Leftward

d)

Downward

4.

____ is also known as decrease in quantity demanded.

a)

Contraction in demand

b)

Expansion in demand

c)

Rightward

d)

Leftward

5.

A rise in price of tea will lead to an____movement in the demand curve of tea.

a)

Downward

b)

Rightward

c)

Leftward

d)

Upward

6.

Expansion in denand leads to an upward movement along the same demand curve.

a)

True

b)

False

7.

Market demand curve is obtained by vertical summation of individual demand curves.

a)

True

b)

False

8.

Due to increase in one more member, the family expenditure on milk increased. It is an example of extension in demand.

a)

True

b)

False

9.

Size and composition of population affect the demand for an individual.

a)

True

b)

False

10.

The demand for a commodity always increases with increase in the price of other goods.

a)

True

b)

False