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WorksheetsMarket Demand & Supply
Total questions: 10
Worksheet time: 2mins
•The behavior of suppliers (producers) on their willingness and ability to make products available at given prices.
Demand
Demand Curve
Supply
Supply Curve
What do you call the graphical presentation of a demand schedule?
Quantity Demand
Demand Curve
Quantity Supply
Supply Curve
Which of the following is NOT a non-price determinants of demand?
Income
Taste and Preferences
Technology
Number of buyers
•Refers to the tabular presentation of prices and their corresponding quantities supplied by the supplier.
Demand Curve
Demand Schedule
Supply Curve
Supply Schedule
What is the impact to supply if there is an increase in number of sellers of the product?
Increase
Decrease
What is the impact to demand if there is an increase of income of the buyers?
Increase
Decrease
Which law explains that "when prices of products increase, the tendency of consumers is to buy less of the product and when the price decreases consumer buy more of the products"?
Law of Supply
Law of Demand
This law states that "when prices of commodities tend to increase, the quantity being supplied by producers also tend to increase; while when prices of commodities decrease, the corresponding quantities being supplied also tend to decrease".
Law of Demand
Law of Supply
What is the driving force behind the behavior of producers bringing about the law of supply?
Profit Motive
Product Motive
Customer Motive
Personal Motive
Refers to the behavior of people with regard to their willingness and ability to buy(purchasing power) products at given prices
Demand
Demand Curve
Supply
Supply Curve
