WorksheetsDemand and Supply
Total questions: 15
Worksheet time: 15mins
What is measured on the vertical axis of a demand curve?
Cost
Price
Supply
Quantity
What happens to people’s willingness and ability to buy a product when its price falls?
A
B
C
D
The diagram shows the demand for chocolate.
What could cause the movement from point X to point Y?
A change in tastes
An increase in income
A fall in the price of chocolate
A successful advertising campaign for chocolate
What is meant by a contraction in demand?
A rise in demand due to a fall in the price of a complement
A reduction in demand due to a rise in the price of the product
A rise in demand due to a rise in the price of a substitute product
A reduction in demand due to a fall in the income of the population
Which of these is showing that a product is the substitute of the other product?
The price of fuel rises. What will happen to the demand for cars?
It will extend
It will contract
It will decrease
It will increase
Which event would cause the demand curve for air travel to shift to the left?
A fall in the cost of air fuel
A fall in the safety of sea travel
A rise in the size of the population
A rise in the price of foreign holidays
The diagram shows the demand curve for coffee in the US.
Why did the quantity demanded move from Q1 to Q2?
Incomes rose in the US
Coffee became cheaper
The price of substitutes for coffee rose
There was a successful advertising campaign by coffee retailers
What is the relationship between demand and price and the relationship between supply and price?
A
B
C
D
How would an increase in supply be illustrated?
A movement up the supply curve
A movement down the supply curve
A shift to the left of the supply curve
A shift to the right of the supply curve
What would cause an increase in the supply of milk?
An increase in the price of cattle feed
The outbreak of a disease affecting cows
An increase in wages paid to farm workers
The introduction of a subsidy to cattle farmers
What would make a supply curve of coffee shift to the left?
Increase in tea price
Decrease in coffee bean’s price
Increase in taxes paid to government
Decrease in delivery cost of coffee to consumer
Which pair of products is an example of joint supply?
Cars and petrol
Beef and leather
Bread and butter
Computers and printers
The diagram shows a shift in the supply curve for cars in China from S1 to S2.
What is the most likely cause of this shift in the supply curve?
An increase in the price of cars in China
A decrease in the corporation tax on in China
An increase in the wages of Chinese car workers
A new subsidy given to Chinese car manufacturers
What cause a contraction in supply?
A decrease in the cost of production
A decrease in the price of a product produced
An increase in the price of a product produced
An increase in the subsidy given by the government to the producers
