WorksheetsDemand
Total questions: 10
Worksheet time: 3mins
The law of demand is
As the price increases the quantity demanded increases
As the price increases demand decreases
As the price increases the quantity demanded decreases
As the price decreases the quantity demanded decreases
Goods that replace each other are called
Supplements
Substitutes
Complements
None of the above
Examples of substitutes could be
Tea and coffee
Tea and milk
Bread and butter
Fish and cabbage
Which of the following could be complements
Iphone and Android phone
Football and rugby ball
Big Mac and KFC
I phone and headphones
Producer Revenue (consumer spending) =
The amount sold
Profit of the business
Price times quantity demanded
None of the above
Which of the following would increase the demand for Marmite?
Price of vegemite increases
Price of vegemite decreases
Increase in income tax
Price of bread increases
Which if the following would increase the demand for movie tickets?
Price of online movies increases
The Government increases the minimum wage
Effective advertising of movies
All of the above
Market demand is obtained by
Calculating the average demand for all of the consumers
Calculating total sales in the market
Adding the quantity demanded for each consumer at each price
None of the above
Which of the following would reduce the quantity demanded for milk
Bad publicity about fat content in milk
increase in the price of the milk
reduction in price of other drinks
all of the above
Producers should choose the price which
Maximises the quantity sold
Maximises consumer satisfaction
Maximises revenue
Maximises the quantity demanded
