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WorksheetsCHAPTER 2 : DEMAND & SUPPLY THEORY
Total questions: 10
Worksheet time: 3mins
A movement along a demand curve can be influenced by
tastes
population
the product's price
consumer's income
The law of demand states that
a decrease in the price of a goods will cause the demand curve to shift to the left
an increase in the price of a goods will cause the demand curve to shift rightwards
the price of goods is negatively related to the quantity demanded of the goods
the price of goods is positively related to the quantity demanded of the goods
An increase in the sales tax by government will cause the
demand curve shift to rightward
demand curve shift to leftward
supply curve shift to rightward
supply curve shift to leftward
If two goods are complementary, a drop in price of one goods will
increase the demand for the other goods
decrease the demand for the other goods
increase the quantity of demanded for the other goods
increases the demand for both goods
The quantity supply goods S in the market increases as a result of
export of goods S decrease
imports of goods S increased
price increase of goods S
increase in production technology
Which from the following factors, DOES NOT influence the supply of goods?
Input price
Level of technology
Producers goals
Level of income
Exceptional demand curve will have a positive slope if
the country experiences an economic downturn
it is a prestigious goods
the price of the goods is expected to increase in the future
the price of the goods is expected to decrease in the future
When the price of Goods A increases, the demand for Goods B increases, while the demand for Goods C decreases. What is the relationship between Goods A, B and C
Goods A is a substitute goods for Goods B and a complementary goods for Goods C
Goods A is a complementary goods for Goods B and a substitutes goods for Goods C
Goods A is a substitutes goods for both Goods B and C
Goods A is a complementary goods for both Goods B and C
Any decrease in the supply quantity of a product due to its price reduction will be shown by
an upward movement along the supply curve
a downward movement along the supply curve
a shift of the supply curve to the left
a shift of the supply curve to the right
What is a definition of demand from an economic perspective
the desire to purchase goods and services at certain price
the desire of all individuals in a market to purchase goods and services at a certain price
the ability of an individual to spend his income to purchase goods and services
the desire of an individual to obtain goods and services, supported by the ability to pay a goods and services at certain price
